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Berlusconi’s AC Milan eyes sale: report

Italy's most valuable football club, AC Milan, is considering a sale according to a report on Wednesday by financial news agency Bloomberg.

Berlusconi's AC Milan eyes sale: report
AC Milan was bought by Silvio Berlusconi in 1986. Photo: Stefano Brivio/Flickr

Asset management firm Lazard Ltd has sent documents to potential buyers, Bloomberg said citing three people with knowledge of the confidential deal.

AC Milan is worth $945 million (€688 million), making it the most valuable club in Italy and sixth in the world, according to business magazine Forbes.

It was bought in 1986 by Silvio Berlusconi, then a rising business tycoon who went on to serve three terms as Italian prime minister.

Responding to the report, Berlusconi’s holding company Fininvest said it was “totally devoid of foundation”.

When contacted by The Local, AC Milan and Lazard Ltd were not immediately available to comment on the potential sale.

Currently tenth place in Italy’s top Serie A league, AC Milan took the number ten spot in financial services firm Deloitte’s recent ranking of the world’s football clubs.

The club’s overall revenues increased by three percent in 2012/2013, although the club dropped two places in the ranking of financial performance.

"Consistent qualification for Europe’s top tier club competition, addressing the stadium issues [of deteriorating facilities], as well as further commercial revenue growth, is required” in order for AC Milan to stay in financial health, Deloitte said.

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RACISM

VIDEO: Spain’s La Liga reviews video of boy racially abusing Vinicius

Spain's La Liga on Monday said it was reviewing a video of a child making racist insults towards Real Madrid forward Vinicius Junior during the 2-2 draw with Valencia at the weekend.

VIDEO: Spain's La Liga reviews video of boy racially abusing Vinicius

“We’re in the process of studying and analysing the facts from a legal standpoint to see what we can and should do,” La Liga sources said.

In a video published by a journalist for ESPN Brasil, and picked up by Spanish media, a boy sitting in a woman’s lap can be heard calling Vinicius a “monkey”.

https://twitter.com/GravesenFumado/status/1764242481984491822

The Brazilian scored twice for Madrid as his team recovered from two goals down at Mestalla on Saturday.

Vinicius raised his fist in a “Black Power” salute after the first of his two goals at a ground where he was racially abused last season. Valencia subsequently banned three people from the stadium for life.

The 23-year-old has become a symbol of the fight against discrimination in Spanish football after suffering racist abuse on many occasions, and he was jeered repeatedly by home supporters on Saturday.

Jude Bellingham was sent off after the final whistle against Valencia for protesting after the referee blew the final whistle right before the England midfielder headed home what he thought was the winning goal.

READ ALSO: Football star Vinicius highlights racist behaviour from Spanish fans

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