Baidu CEO May Purchase AC Milan Soccer Club

Baidu CEO May Purchase AC Milan Soccer Club
Apr 19, 2016 By eChinacities.com

Baidu CEO Robin Li may purchase AC Milan soccer club, according to Italy’s La Gazzetta dello Sport. Li, who co-founded Baidu, was ranked #6 on Forbes China Rich List in 2015 and has a net worth of $11.6 billion.

Li is reportedly in talks to purchase the bulk of the Series A soccer club’s shares for 700 million Euros (5.1 billion Yuan). Baidu had no comment on the rumor.

AC Milan’s other potential buyers include Thai businessman Bee Taechaubol and China’s Wanda Group. Taechaubol hoped to purchase a 48% stake in the team for 480 million Euros (3.1 billion Yuan). The two sides reportedly reached an agreement but the deal was not completed. Wanda Group denied rumors of their company’s interest in the team.

AC Milan is currently owned by Finivest, which is controlled by former Italian prime minister Silvio Berlusconi. However, the team has a poor record in Series A and has not qualified for the Champions League since 2014. Cristian Brocchi took over as coach for AC Milan on April 12 after former coach Sinisa Mihajlovic’s dismissal.

Source: thepaper.cn

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Keywords: AC Milan Baidu Robin Li

1 Comments

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dyanisis

Ha HA ha so true

Apr 20, 2016 08:38 Report Abuse