Jack Ma to Buy AC Milan from Silvio Berlusconi?

By Ned Kelly

Asia's richest man Jack Ma is lining up a deal to buy Italian football club AC Milan from ex-Italian Prime Minister Silvio Berlusconi, according to Italian sports publication La Repubblica.

The 51-year-old owner of retail giant Alibaba, who bought a 40 percent stake in Guangzhou Evergrande Football Club for a reported RMB1.2 billion in 2014, looks set to diversify his soccer interests.

Berlusconi holding company Fininvest currently has a 99 percent stake in the club. Ma and co-investors would purchase 70 percent of Fininvest's shares straight away, the report says, then buy the remaining 30 percent "within a year."

Ma expanded his wealth to $33.3 billion on Tuesday, according to Bloomberg, adding $4.3 billion to his fortune after his Ant Financial’s latest deal. The move saw him overtake Dalian Wanda Group Co.’s Wang Jianlin and top the list of Asia’s richest fat cats.

Hey, why not celebrate by buying one of the world's most famous football clubs?

You May Also Like...

For more China news, click "Read more" below.