NEWS
Friday April 15 2016
Milan: American partner revealed

Milan's Italo-American advisor in the sale to China is revealed to be MLB, NBA and NFL veterans Galatioto Sports Partners.

The Rossoneri have left behind the drama with Bee Taechaubol and have new plans to sell the club. Reports suggest they are looking to sell to a Chinese group, via the mediation of an American partner.

The name of that American partner, previously kept under wraps, is revealed by La Gazzetta dello Sport to be Salvatore Galatioto, from the Galatioto Sports Partners.

The Italian-born businessman is a major figure in American sports and has taken an active role in the transactions of Major League Baseball's Chicago Cubs, the National Basketball Association's Golden State Warriors, and the National Football League's Washington Redskins, among others.

The identity of the Chinese investor itself remains unknown, though it's certain they will be a conglomerate, rather than a broker like Mr Bee. This means they'll come into the sale with their own capital, rather than having to gather it from a variety of investors.

This also means that should they buy Milan, they would expect the majority share of the club, taking control away from President Silvio Berlusconi – an option the Italian businessman is trying to avoid.

Milan is expected to be sold at an amount between €600-700m, against the €1billion it was worth a few years ago.