A consortium of Chinese investors has laid their eyes on Italian Football Club AC Milan, according to media reports. In the eventuality of the planned takeover, the Chinese group also intends to build a new stadium.
Media has already reported about the clubs plans to be listed on the stock exchange and its aims for a new stadium. Currently, AC Milan shares the Stadio Giuseppe Meazza with city rivals FC Internazionale.
Media reports in Italy also suggests that the current owner of AC Milan, the Italian holding company Fininvest is looking to sell the club. The Chinese consortium has come forward as the most formidable potential buyer with a bid of between 700-750 million euros for complete stake in the club, according to the reports.
The Chinese consortium has reportedly signed a contract with Fininvest on the continuation of the ongoing talks.
In September 2015, AC Milan’s Honorary President Silvio Berlusconi stated that the plans for a new stadium had failed. At that time, the club had hoped to have a new venue for the 2018-19 season and talks were on for building a new stadium in the area of Sesto San Giovanni in the Portello district.
Renewed hopes for new stadium
With the new Chinese bid, hopes are raised again to see that dream come true.
AC Milan has apparently started its deliberations on the new stadium on the Expo site again. The money will come from the Chinese investor group.
According to local media reports, the club has already initiated talks with Unipol, an Italian financial company that owns 450,000-square metre site on the northwestern edge of the city. The site was the venue for World Expo 2015. The stadium will need only 2,000-square metre of land and Unipol has reportedly expressed its interest in the project and is not adverse to selling off the required land.