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.
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.”