NEWS
Wednesday April 27 2016
Milan investor's identity revealed?

Jack Ma, China’s richest man, is reportedly leading the group interested in Milan and he wants to build a new stadium.

La Repubblica reports today that Ma, founder of the Alibaba group and co-owner of Chinese club Guangzhou Evergrande, is heading the group that are in talks to take over the Rossoneri.

The investors from Peking should get a reply from President Silvio Berlusconi before the end of the week about whether they can enter exclusive negotiations.

If they get the go-ahead, the analysis of Milan’s accounts will begin which could be concluded quite quickly.

Therefore the outlet writes that if everything goes smoothly, a deal could be signed off by mid-June.

One of Ma’s first projects would be to build a new stadium owned by the club, says the report.

Another change that could take place would be the insertion of former Guangzhou Coach Marcello Lippi as technical director, according to the newspaper.

Ma’s Alibaba group includes Taobao (the Chinese Ebay), Aliplay (an electronic payment system), Weibo (the Chinese Twitter) and Alibaba pictures ($3m of investment in the film industry.)

According to Forbes magazine he has an estimated net worth of $24.1 billion and is the 18th richest person in the world.