SHARE
COPY LINK

FOOTBALL

Berlusconi’s AC Milan eyes sale: report

Italy's most valuable football club, AC Milan, is considering a sale according to a report on Wednesday by financial news agency Bloomberg.

Berlusconi's AC Milan eyes sale: report
AC Milan was bought by Silvio Berlusconi in 1986. Photo: Stefano Brivio/Flickr

Asset management firm Lazard Ltd has sent documents to potential buyers, Bloomberg said citing three people with knowledge of the confidential deal.

AC Milan is worth $945 million (€688 million), making it the most valuable club in Italy and sixth in the world, according to business magazine Forbes.

It was bought in 1986 by Silvio Berlusconi, then a rising business tycoon who went on to serve three terms as Italian prime minister.

Responding to the report, Berlusconi’s holding company Fininvest said it was “totally devoid of foundation”.

When contacted by The Local, AC Milan and Lazard Ltd were not immediately available to comment on the potential sale.

Currently tenth place in Italy’s top Serie A league, AC Milan took the number ten spot in financial services firm Deloitte’s recent ranking of the world’s football clubs.

The club’s overall revenues increased by three percent in 2012/2013, although the club dropped two places in the ranking of financial performance.

"Consistent qualification for Europe’s top tier club competition, addressing the stadium issues [of deteriorating facilities], as well as further commercial revenue growth, is required” in order for AC Milan to stay in financial health, Deloitte said.

Don't miss a story about Italy – Join us on Facebook and Twitter.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

FOOTBALL

Euro 2020: Concern about virus spread after Italy players’ ‘unauthorised’ victory parade through Rome

Italy’s national football team reportedly insisted on taking an open-top bus tour through Rome to show off their European Championship trophy to crowds of fans - despite city authorities forbidding it amid concern about the spread of coronavirus.

Euro 2020: Concern about virus spread after Italy players' ‘unauthorised’ victory parade through Rome
Photo: Tiziana Fabi/AFP

The team’s bus parade through the city on Monday night following their Euro 2020 triumph “was not authorised”, according to Matteo Piantedosi the head of Rome’s prefettura (the public safety authority).

Thousands of fans packed the streets of central Rome to see the team celebrate their cup win after beating England on penalties in the final.

READ ALSO: ‘Football came home’: Italy celebrates Euro 2020 victory over England

Piantedosi told Italian newspaper Corriere della Sera on Wednesday: “We had denied permission to celebrate Italy’s victory in the European Championships on the open bus, but the pact was not respected.”

Piantedosi, who is Rome’s top public security official, said police had “no choice” but to let the parade go ahead after players Giorgio Chiellini and Leonardo Bonucci insisted on it.

Photo: Vincenzo Pinto/AFP

A meeting had been held on Friday with the Italian football federation (FIGC) to discuss plans for the celebrations if Italy won, said Piantedosi.

“I had agreed the line with Interior Minister Luciana Lamorgese and Chief of Police Lamberto Giannini,” he said.

“It was clearly explained that [the parade] was not possible. We said we could not authorize it.”

Piantedosi said the Italian football federation (FIGC) initially agreed to hold a “controlled” ceremony in Rome’s central Piazza del Popolo instead of the parade.

After players insisted on the bus tour on Monday however, Piantedosi said, authorities reluctantly let them go ahead due to fears of sparking public disorder.

“At that point we had no choice but to acknowledge the situation and handle it in the best way we could,” he said.

READ ALSO: Covid cases on the rise in Europe once again as WHO warns of Euro 2020 risk

Photo: Andreas Solaro/AFP

In a statement on Wednesday, the FIGC said it had acted responsibly but decided not to disappoint fans who had come to celebrate with the team.

Footage of large crowds thronging the bus carrying the ‘Azzurri’ and the European Championship trophy through the capital however fuelled concerns about new outbreaks of coronavirus, after Italy’s infection rate began to rise again last week.

The World Health Organization warned earlier this month that crowds and gatherings connected to football matches will fuel a new rise in cases across Europe this summer.

READ ALSO: Delta variant in Italy will be ‘prevalent within 10 days’: health official

Italy’s health minister Roberto Speranza also voiced concerns on Monday about the consequences of people gathering to watch sporting events.

He said the European football championship win was “a great joy after terrible months,” but “even in these moments of national pride we can’t forget that our ‘game’ to defeat Covid is not yet won.”

There are currently minimal health restrictions in place across Italy, however masks are supposed to be worn in crowded public places, including outdoors.

“Footage shows that police were virtually the only ones [in the crowd] wearing masks,” said Piantedosi.

SHOW COMMENTS