Thai businessman to seal AC Milan deal next week

Thai businessman Bee Taechaubol revealed yesterday he was on the verge of becoming the new majority shareholder at Italian Serie A club AC Milan, saying he will fly to Milan this weekend to seal the deal.

Reports in the Italian media said the Thai investor reached an agreement with club owner Silvio Berlusconi, which will see him obtain 20 per cent of shares initially before his portion reaches 65 per cent next year in a deal reportedly worth 780 million euros (S$1126 million).

According to La Repubblica, Bee confirmed the agreement, which ended months of speculation over the future of the fallen Serie A giants.

"Next Sunday, April 26, I'll be in Milan to sign and close the deal," the businessman was quoted as saying by the Italian newspaper.

His remarks came right after he sent a personal message to the club prior to Sunday's derby match against Inter Milan, which ended in a goal-less draw.

"My warm and best wishes to the president, the entire Berlusconi family, and all of the directors, but above all I send my full support for Milan.

"I'll be watching the game live from Bangkok and I'll be your most dedicated fan. Forza Milan!"

It was also reported that if Berlusconi was to change his mind - he was also reportedly in talks with Chinese investors over possible sale of the club - he would have to pay a multi-million euro fine.