Silvio Berlusconi Selling Controlling AC Milan Share For $1 Billion Per Report
By Ty Duffy
Former Italian PM Silvio Berlusconi is selling 75 percent of AC Milan to Chinese investors (and possibly the government) for $1 Billion per reports. Berlusconi bought the club in 1986. Under his ownership, Milan have won eight Serie A titles and five European Cups.
For fans, it’s uncertainty, although change was needed. Berlusconi has been distracted by trying to stay out of prison for tax evasion and for sex with an underage prostitute among other things. Milan has fallen to a second-tier power, since winning their last Champions League in 2007. Major stars – Zlatan Ibrahimovic, Thiago Silva, Kaka, Mario Balotelli – have been sold off. Reinforcements have often been for popularity (Ronaldinho, David Beckham on loan), rather than rational rebuilding.
AC Milan has won one Serie A title since 2004. The club missed qualifying for the Champions League last year, finishing 8th. They currently sit in 8th place, 29 points behind leaders Juventus. The clubs needs substantial investment to get back. Better marketing and overseas television rights sales in China is a good way to get that.
Reports suggest the Chinese government may be involved, as part of a long-term plan to improve the sport’s popularity (and the national team’s capability) ahead of a potential World Cup bid. China currently ranks 83rd in the FIFA rankings, behind far smaller Asian rivals such as the United Arab Emirates.
The most impressive part of this was that Berlusconi, somehow, was one of the less corrupt figures in major European soccer.