Friday, 5 August 2016

AC Milan: After 30 years Silvio Berlusconi sells the Italian team to communist investors

Friday, 5 August 2016. After 30 years of ownership, Silvio Berlusconi decides to sell his beloved AC Milan to a bunch of Communists.

Silvio Berlusconi has sold his football team AC Milan, as a Fininvest’s communiqué confirmed at 2:06pm, but what makes things worse is the fact that the new ownership – which bought out the 99.93% of the shares – are Chinese, therefore communists (and we know well what Silvio thinks about communists).

Silvio Berlusconi with one of the communists buying his beloved AC Milan (courtesy of
Negotiations and signings took place at Mr Berlusconi’s Villa Certosa on the island of Sardinia, allegedly the Chinese consortium will be paying the lump sum of 740m euros (that is £628m, with the current rate of exchangee, or $820m), including €220m (£187m or $244m) of debts left by the previous management.

The 99.93% of shares acquired by the Chinese investors, a group called Sino-Europe Sports Investment Management Changxing, are the entire amount of the shares in the hands of the family Berlusconi.

The investors have agreed to invest €350m (£297m) in the following three seasons, in order to create a more competitive team (it won't be a difficult task, since last year AC Milan finished in the seventh spot, in the Italian Serie A). As head coach, the newly appointed Vincenzo Montella is likely to be confirmed.

”I had to do it” said a visibly emotional Silvio Berlusconi "It’s a painful decision, but I can’t just keep up with the global market. It's an awful lot of money!”. And after a journalist asked him about his feelings regarding selling the passion of his life to his worst enemy, the communists, added "Are the Chinese communists? I don't think so!".

The deal was closed with the cooperation of Lazard Bank, BNP Paribas and Rothschild, a few law firms - Gianni Origoni, Grippo, Cappelli&partners ans Studio Chiomenti. Every single group’s representative travelled to Villa Certosa, where they possibly had good fun (as most people have, when visiting the main retreat of the former Prime Minister of Italy).