NEWS
Saturday April 16 2016
Milan 'sold to China in 6-8 weeks'

Salvatore Galatioto, the American mediator, claims Milan could be sold “in six to eight weeks to a Chinese group that has big ambitions.”

After negotiations with ‘Mr Bee’ Taechaubol broke down, President Silvio Berlusconi is considering selling 50 per cent or more to Chinese investors.

“We are talking about a very important club, known all over the world, and if it weren’t we wouldn’t be getting involved,” Galatioto told La Gazzetta dello Sport in New York.

“It’s also a splendid city and above all a fantastic brand, that of ‘AC Milan.’

“For obvious reasons I cannot reveal who the potential buyer is. I can only say it’s a Chinese group that has big ambitions and is very, very interested in the club.

“People of the top level belong to this project, we have some very interesting ideas and plans, but first we must conclude the operation.

“I think if things go in the right direction, we could conclude the deal in six to eight weeks. One of my former students at Columbia University, who I prefer not to name, lives in Milan and is acting as consultant in this operation.

“We are already in good shape, but in these cases it’s best not to get ahead of ourselves.

“This move reminds me of the Warriors. Still today I receive emails from Golden State fans thanking me. The Milan supporters are already doing the same, my inbox is full of encouraging messages from their supporters.

“It is wonderful to get a genuine feel for the passion of these fans for their team.”

The former Lehman Brothers representative was named one of the 50 most influential people in American sport by the Street & Smith Sports Business Journal in 2010 and as an advisor helped more than 70 changes of club ownership with his Galatioto Sports Partners.

“It’s not enough just to consider the economic aspect, which naturally is important, but we must also look at the future of the franchises and think of their success.

“I cannot get into specifics, but we worked with several Premier League teams as advisors to optimise and versify their profits.

“The idea is to make clubs as profitable as possible over time, to create a solid economic base that can then provide results on the pitch.

“Essentially my plan is to produce a perfect match-making service, to find the right person who firmly believes in a project and naturally has all the credentials, economically and professionally, to have long-term success.

“I don’t want my name to only be associated with profit, as I am interested in making a club competitive both on a sporting and financial level.

“Developing a winning brand is the objective. The success of our important clients, like the Yankees or the Warriors, makes me very proud.”