After months of negotiations, AC Milan president, Silvio Berlusconi is set to sell 48 percent stake in AC Milan to Thai business man Bee Taechaubol.
In the set agreement, Berlusconi is to remain president of the Milan club while the Italians holding company still controls 52 percent of the club. Fininvest, Berlusconi’s holding company announced the upcoming deal via their managing director and the deal is believed to be worth about 500 million euros. According to the company’s managing director, the deal is going to help with the commercialization of AC Milan especially in Asian countries.
Berlusconi has promised that AC Milan would not lose its Italian identity as a result of the deal but the club would be happy to receive the cash injection which would go a long way in helping the club build in order to return to the summit of European football.