Friday, 25 April 2014

AC Milan debunks foreign takeover talk

AC Milan has debunked speculations that the club is about to be sold, rejecting reports that Singapore-based businessman Peter Lim has made a €500m ($690m) bid for the Serie A football team.

The prospect of a full takeover by Lim, who has also been linked with Spanish Liga club Valencia in recent months, has been discounted by Fininvest, the Milan-based holding company of club owner Silvio Berlusconi. A statement read: “In reference to the rumours reported by the press, Fininvest once again denies any possibility of the control of Milan being relinquished.”

Earlier this month, the Reuters news agency said Berlusconi is considering selling a stake of between 20 and 30 per cent in Milan. Barbara Berlusconi, daughter of the media magnate and the club’s co-chief executive, told a news conference that the family was seeking partners and she would travel to the Middle East and the US as part of this process.

Umberto Gandini has also stressed that there is no deal in place to sell AC Milan to foreign owners, following a wave of rumours suggesting the Rossoneri were set for a big-money takeover.

His confirmation follows that of Milan CEO Adriano Galliani, who has also been swift to deny the reports. Gandini explained that the supposed deal would be impossible due to the restrictions of new Financial Fair Play rulings, but did suggest the club would be open to a level of investment from a third party.

“There is no ongoing negotiation regarding the sale of Milan," Gandini told Radio Sportiva.

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