Sheikh Mohammed is apparently investing in a football team of his own
There's something about European football teams and our region. First Manchester City was snapped up by Abu Dhabi and now our own leader, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai,, is apparently preparing to buy Italian big shots AC Milan.
The ruler of Dubai is preparing an offer to purchase 40 percent of AC Milan for about 400 million euros, according to areport today from news agency Reuters.
AC Milan's owner Fininvest SpA [FIN.UL], the holding company of Prime Minister Silvio Berlusconi's family, could get the offer this week.
The bid from Sheikh Mohammed bin Rashid al-Maktoum could include an option to buy the rest of AC Milan in two years, it said. Milan have denied any talks were under way. Asked in a television interview late on Monday about sale of the club, Berlusconi said, "You, like all other journalists, are completely divorced from reality."