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AC Milan To Be Bought By Alibaba Owner, Jack Ma.

It's been reported that a Chinese group of wealthy business moguls led by Alibaba owner, Jack Ma are bidding €700million to purchase the Italian club. If this transaction succeeds - which is more likely considering the current financial profile of the club - AC Milan will become the richest club in the world.

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The Chinese group led by Jack Ma is hoping to buy the San Siro club from former Italian Prime Minister, Silvio Berlusconi.

Jack Ma whose estimated worth stands at US$25billion, is the richest Chinese man. He is a part owner (with a higher percentage) of the famous Chinese Super League side Guangzhou Evergrande; he also owns the largest Chinese social network Weibo and a host of other businesses.

 

According to an online report: “The investment deal, which has been brokered by an Italian-American banking group, would see Ma and his co-investors buying 70% of the club immediately before completing a full takeover inside 12 months.

“The decision now rests with Berlusconi, who is expected to meet the prospective investors soon.”

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