Indonesian signs deal to take over Italy's Inter Milan

AP, Tuesday 15 Oct 2013

Thohir signs deal to take over 70 percent stake in club which is reportedly worth $475 million

Inter Milan
Inter Milan's players react during their Champions League soccer match against Tottenham Hotspur at White Hart Lane in London November 2, 2010. (Photo: Reuters)

Indonesian businessman Erick Thohir has signed a deal to take over a majority stake of Inter Milan, becoming the second foreign owner in the Italian soccer league.

Inter president Massimo Moratti says ''everything has been signed. I believe a press release will be issued shortly.''

The deal for a 70 percent stake in the club is reportedly worth $475 million.

The first Serie A club to cede majority ownership to foreigners was Roma, which was taken over by a group of Boston executives in 2011.

Thohir is part owner of the Philadelphia 76ers and D.C. United.

It remains unclear if Moratti, who has held the club since 1995, will remain president.

Inter has won 18 Serie A titles and three European Cups.

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