MILAN – The Ricketts household that owns the Chicago Cubs says it’s negotiating to buy the debt-ridden AC Milan soccer staff.
The Milan workplace of the Edelman public relations agency, which has been employed to symbolize the Ricketts, says all the household is fascinated with Milan for “a medium- to long-period funding” and needs to create “a robust bond with the town.”
The curiosity comes as seven-time European champion Milan faces UEFA sanctions over a breach of economic truthful play rules.
Milan final 12 months spent greater than 200 million euros (then practically $250 million) on new gamers amid questions over the monetary stability of the Chinese language-led consortium that bought the membership from Silvio Berlusconi for $800 million in April 2017.
Serie A staff Milan took a mortgage from U.S. non-public fairness fund Elliott price greater than 300 million euros that membership chairman Li Yonghong has struggled to pay again.
Milan certified for the Europa League subsequent season however dangers being excluded as a part of the potential sanctions.
The Ricketts household acquired a majority curiosity within the Cubs in 2009 and the staff received the 2016 World Sequence underneath its steerage.
The Gazzetta dello Sport reviews Saturday that there’s additionally one other American occasion – which it didn’t identify – fascinated with buying Milan.
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