AC Milan has some fresh capital coming in thanks to a new investor. The club confirmed on Friday that Bee Taechaubol, a Thai investor, has reached an agreement to purchase a 48% stake in the club. Significantly, this means that Berlusconi will retain control over the club and remain deeply involved in the strategic direction for the Rossoneri.
Taechaubol has made a career of private equity investments in growth and turnaround scenarios in industries ranging from financial services, payments, real estate, technology, public infrastructure as well as sports properties. It seems likely that Milan will seek to use his connections to grow the club’s presence in the rapidly expanding Southeast Asia and greater Asia market.
Taechaubol has been quoted as saying, “Milan have a thoroughly Italian soul and identity,”. “It’s a brand of Italian excellence, and it should remain that way.
“It would be absurd to see a skyboy filled with Asian Milan directors. Milan would then lose its identity.
“I’m not here to be the president. I’m an investor. Central figures like Galliani and Barbara Berlusconi will not be touched.
Full translated text of press release below:
President Silvio Berlusconi approved the agreement signed by the managing director of Fininvest Pasquale Cannatelli and Mr. Bee Taechaubol it plans to deal exclusively for a period of eight weeks a partnership related to AC Milan.
In this time of Silvio Berlusconi, who will continue as President and Mr. Taechaubol they will work together to build a large and ambitious project to restore the economic and sports Milan at the highest levels of Italian football and international sphere of responsibility to history, prestige and results.
In this context, the draft agreement, which will be ‘examined in detail, which provides control of the club remains in the hands of President Silvio Berlusconi and Fininvest, which will’ head a absolute majority share of 52%. The consortium represented by Mr. Taechaubol will acquire ‘instead of a minority stake of 48%.
The draft agreement has as its objective the promotion and marketing of the brand AC Milan in particular in Asian countries, in order to get a boost in revenue and consequently the financial resources needed to bring, through a proposed technical and sporting extremely incisive , AC Milan to compete with the main historical clubs in world football.