AC Milan owner Silvio Berlusconi has sold a 48 per-cent stake of the club to Thai businessman Bee Taechaubol, according to reports from Italy. Talks had broken down between the pair after Taechaubol, commonly called ‘Mr. Bee’, offered €1 billion for the entirety of the Serie A club.
But after a long meeting between Berlusconi and Taechaubol, they reached an agreement for around half that amount (£365million) which allows the former Italian Prime Minister to keep his majority stake.
Berlusconi has owned the 18-time Italian champions for almost 30 years, presiding over its most successful era with 28 trophies. However, Milan’s form has dipped in recent years, with the team finishing 10th in Serie A this season.
Under the terms agreed, Adriano Galliani will remain in charge as the club’s sporting director for the next 12 months, remaining in control of the club’s transfer business, while any decision to potentially replace head coach Filippo Inzaghi will be taken in conjunction with the club’s new owner.
Milan have thus been valued at €975m, plus an additional €250m in debts to take their total valuation to €1,225 billion.
