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Serie A: Thai investor, Mr Bee Taechaubol, signs €780mn AC Milan deal

Amidst all speculations surrounding the possible sale of Italian club AC Milan, Thai investor, Mr Bee, has signed a pre-contract with current owner Silvio Berlusconi, over the sale of 20% of Milan. This is expected to rise to 65% till next year.

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Since the financial cut off of once Italian giants, AC Milan, the team has gone through a very bad patch. Fininvest, the company that had the financial control of AC Milan, stopped the funding in 2010 under the Chairperson and owner Silvio Berlusconi's daughter- Marina. 

Due to this crisis, star players like Zlatan Ibrahimovic, Thiago Silva and Mario Balotelli  were forced to sold. But their replacements weren't so effective. Currently, Ac Milan sit at ninth place and desperately look to finish fourth in order to avoid a second successive season without European Qualification. 

But this time around, the fans hit out at the authorities when they boycotted AC Milan home games. Almost all the San Siro, Milan's home ground, was empty during their clash against Cagliari, earlier this season. The fans were understandably angry at their team's performance and also the exclusion from European competition.

The fans started a widespread protest and also trended the #SAVEACMILAN hashtag.

 

But now that they have a new investor for them, things might change. Mr Bee and Berlusconi had a preliminary agreement early last year over the sale of 20% of AC Milan. This will rise to almost 65% in the coming 12 months. AC Milan in valued at an estimate of €1.2 billion and Mr Bee will pay €780 million over the next year to take 65% of the club.

This deal would end the 29-year old reign of Silvio Berlusconi as the team owner.


(Berlusconi has been the team's President since 1986)

Mr Bee is supposed to have Pablo Victor Dana, a financial expert, installed as the club's new CEO.

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