AC Milan owner Silvio Berlusconi has signed a preliminary agreement to sell 30 percent of the club to Bee Taechaubol following a meeting between the Italian media magnate and the Thai businessman Air Max Baratas , according to reports on Sunday.
Speculation surrounding the sale or part sale of the seven--time European champions has swirled in recent months with Taechaubol now touted as the leading contender to purchase a sizeable share in the legendary Serie A club.
Last month Chinese billionaire Wang Jianlin, who recently bought influential Swiss sports marketing giants Infront for 1.05 billion euros ($1.2 billion) as well as a 20 percent stake in defending Spanish champions Atletico Madrid, had entered the fray as a possible investor.
But a report in Sunday's La Gazzetta dello Sport claimed Berlusconi and Taechaubol held a meeting in Arcore, Italy last week where a "preliminary agreement was put down in black and white."
It said a financial broker from the Rothschild bank was in attendance for the signing of a "memorandum of understanding" between the parties and that the proposal would "now go through a process of due diligence."
The deal would see Taechaubol acquire a 30 percent share in the club at the end of May for 250 million euros. If Berlusconi goes back on the decision he would be liable to pay a penalty amounting to 10 percent of the price of the 250 million euro stake.
Taechaubol http://www.airmax2019espana.es/ , the executive -director of a Southeast Asian private equity group, -admitted his interest in the club last month.
"I do not deny the interest for a possible share acquisition into such a prestigious club such as AC Milan, but at the moment it's only cordial and private discussions with representatives from the AC Milan group," he said on February 18.
Rumors of a possible deal between the parties resurfaced at the end of last week Air Max 2017 Baratas , prompting Berlusconi's Fininvest -company to issue a statement which effectively suggested the former two-time Italian prime minister wants to retain a -majority share in the club.
"Following the recent media reports, Fininvest reiterates it is not interested in selling majority shares of AC Milan," said the statement.
"All we can do is confirm what we already stated on February 14 - that various parties have shown an interest in investing in the club but that no concrete discussions have taken place."
Fininvest last month played down reports that Berlusconi had rejected an offer of 970 million euros for the embattled Serie A club but was willing to sell a minority stake if it came with a pledge to help build a new stadium.
The reports claimed Berlusconi rejected a Singaporean-led bid, which is led by "friends" of Inter Milan's Thai owner Erick Thohir Air Max 2018 Baratas , to buy the club for 970 million euros.
According to Gazzetta's report on Sunday, the preliminary agreement between Berlusconi and Taechaubol fixed the value of Milan at 800 million euros. The club's revenues in 2013-14 were 254.6 million euros although its overall debt currently sits at 244 million euros.
NEW DELHI, June 4 (Xinhua) -- Indian Prime Minister Narendra Modi on Sunday condemned the terror attacks in London in which at least six people were killed and more than 20 others injured.
"Attacks in London are shocking & anguishing. We condemn them. My thoughts are with families of the deceased & prayers with the injured," Modi tweeted.
The terror attacks took place late Saturday night.
First Air Max 2019 Baratas , a white van hit several pedestrians on London Bridge at 10 p.m. (British Standard Time), and then three men alighted from the vehicle and stabbed a number of people in nearby Borough Market.
The attacks came barely two weeks after 22 people were killed and scores injured by a suicide bomber at an Ariana Grande concert in the northern British city of Manchester.
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JERUSALEM, July 18 (Xinhua) -- A famous Catholic church in northern Israel was severely damaged early Thursday in a suspected arson attack by Jewish extremists.
Police spokesperson Micky Rosenfeld said a blaze broke out at around 3:30 a.m. local time (00:30 GMT) at the Church of the Multiplication of the Loaves and Fishes at Tabgha Nike Air Max Baratas , on the Sea of Galilee.
The fire caused extensive damage to an office for pilgrims, a meeting room and a souvenir shop, Rosenfeld said.
The church was built on the site of 4th and 5th century churches which commemorate what faithful Christians revere as Jesus's miraculous feeding of five thousand people with five loaves of bread and two fish.
A Hebrew graffiti spray-painted on a wall of the church led police to suspect that the fire was deliberately instigated, Rosenfeld said. The graffiti was taken from a passage in the Jewish prayer book Air Max Baratas Outlet , reading "the false gods will be eliminated."
According to The Rabbis for Human Rights group, an Israeli rights watchdog, there have been 43 hate crime attacks against Holy sites since 2009, including cemeteries Comprar Air Max Baratas , mosques, churches and monasteries, in Israel, the occupied West Bank and East Jerusalem.
The attacks were widely condemned across the political spectrum Air Max Baratas Online , however suspects are seldom apprehended and tried.
BEIJING, June 16 (Xinhua) -- "The Legend of Hui", a book profiling China's Muslim Hui ethnic minority, was launched by the People's Publishing House in Beijing on Tuesday.