Berlusconi family could sell 30 percent stake in AC Milan
MILAN (Reuters) - The family of former Italian premier Silvio Berlusconi is considering selling a stake of up to 30 percent in AC Milan, bringing in new investors to help try to restore the club to the top of the European game.
The club's co-chief executive Barbara Berlusconi, a daughter of the media magnate, told a news conference on Wednesday Milan was seeking partners and she would travel to the Middle East and later to the United States as part of the process.
Barbara Berlusconi said the family remained committed to AC Milan, seven times European champions, but new minority investors could help the club to fund the building of its own stadium to boost revenue.
"We are looking at various solutions for the stadium which would allow us to make a leap forward and compete with the strongest clubs in Europe," she said.
Milan currently share the Giuseppe Meazza stadium with local rivals Inter. The stadium, known as the San Siro, is owned by the local authorities and that limits how much both teams can earn from the venue.
AC Milan was ranked 10th in the 2012-13 soccer Money League compiled by Deloitte, with revenue of 264 million euros ($364 million).
Rivals Juventus, the Italian champions, have prospered on and off the pitch after moving into a new stadium.
Rumors have been circulating for some time that the Berlusconis were seeking to attract new investors to help revive
a team that is struggling in mid-table in Serie A. Continued...