After weeks of rumoured negotiations that were on and off, it now seems that Silvio Berlusconi is ready to sell a stake in his beloved Milan to a consortium led by Bee Taechaubol.
Here is the press release from Fininvest which we translated for your reading pleasure.
President Silvio Berlusconi approved the agreement signed by Fininvest’s Pasquale Cannatelli and Mr. Bee Taechubol which provides an exclusive negotiating window of eight weeks relative to AC Milan. During this time Silvio Berlusconi, who will continue to be President, and Mr. Taechaubol will work together to build an ambitious project both on an economic and sporting level to bring Milan back to the top of Italian and International football.
In this framework, the hypothesis of an agreement (which will be examined in detail) ensures that the control of the club will remain in the hands of President Silvio Berlusconi and Fininvest, who will hold a majority 52%. The consortium led by Mr. Taechaubol will acquire a minority 48% stake.
The agreement has the objective to further develop and increase the commercial value of the Milan brand, in particular in the Asian countries. Increased revenues will consequently provide significant financial resources necessary to bring back Milan, thanks to an extremely inclusive technical and sporting project, to compete with the best clubs in the world.
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