Berlusconi agrees €480m deal with ‘Mr Bee’ and eyes staying at San Siro
MILAN: Silvio Berlusconi has confirmed that he has reached an agreement with Thai businessman Bee Taechaubol over the sale of a 48pc stake in Milan.
He also indicated that the club were likely to stay at the Stadio Meazza in San Siro which they currently share with derby rivals Internazionale.
A spokesperson for Fininvest, the holding company for Berlusconi’s business interests, said last month that a pre-sale agreement had been agreed, with a €480m payment to be completed by September 30.
With the original deadline just two weeks away, Berlusconi has confirmed to the Italian media that the agreement should be finalised by the start of October 1. Upon completion of the deal, Berlusconi, Italy’s former Prime Minister, will stay on as the club’s president while Taechaubol will serve as vice-president.
Berlusconi said: “We’re going to sign two days after my birthday [September 29], even if I’m at an age where you don’t really have anything to celebrate on your birthday.
“It’s a very intelligent move. Commercialising the Milan brand, not only in China, where we have 242 million fans, but in all countries throughout Asia, is a serious commercial plan which will see Milan gain over €100m a year in added revenue.
“Mr Bee is very serious, and I like him as a person too. He’s a very welcome partner. We’re going to make a great Milan together.”
Berlusconi also suggested Milan will abandon plans to construct a new stadium. The club have already won the right to build a new stadium in the Portello area of Milan, but an ongoing dispute with the company that currently owns the land has delayed the project.
Despite the prospect of new investment from Taechaubol, the Thai businessman has reportedly agreed with Berlusconi to scrap the plans. The club shares its current San Siro home stadium with fierce rivals Inter Milan.
Berlusconi hinted at the agreement, telling the Italian media: “I think Milan will stay at the San Siro.”
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