⚽ Alibaba Eyes AC Milan Deal
Alibaba Group, led by founder Jack Ma, is reportedly in negotiations to acquire Italian football club AC Milan. Italian media first reported this potential acquisition 9 years ago, noting that Ma is working with a group of Chinese investors. Although the exact deal terms remain unclear, speculation has been mounting as Ma and his partners discuss the club's future with Silvio Berlusconi, then-president of Milan.
💬 Silence from Alibaba and Fininvest
Despite the media buzz, both Alibaba and Fininvest, the firm managing AC Milan’s finances, have refused to comment on the potential acquisition. ANSA reached out to Alibaba’s European PR office for a statement, but they declined to respond. Similarly, Fininvest maintained that a good faith agreement was in place but provided no further details, keeping the discussions under wraps.
📊 Key Players in the Chinese Group
The Chinese group led by Jack Ma includes some of Alibaba's major subsidiaries. Taobao, often called China’s eBay, and Aliplay, a widely used electronic payment system, are part of the consortium. Additionally, Weibo, China's version of Twitter, and Alibaba Pictures, which has invested $3M in the film industry, are also involved in this strategic move to expand their global footprint through sports investments.
💼 Jack Ma’s Financial Might
Jack Ma, with a fortune of $24.1B, was the 18th richest person globally, according to Forbes at the time. His interest in acquiring Milan highlights his ambitions beyond e-commerce, aiming to strengthen Alibaba's presence in Europe. This potential deal, while speculative, points to a trend where Chinese investors look to Europe for new opportunities in sports and entertainment, aligning with their broader strategic goals.
Is Alibaba's move into European football a smart play?
