Saturday 23 June 2018 12:25, UK
The owners of Major League Baseball side Chicago Cubs say they are interested in buying a controlling stake in AC Milan.
The Ricketts family, who bought the Cubs in 2009 and led them to a World Series win seven years later, released a statement revealing their interest in taking over the Serie A side, who have been clouded in financial uncertainty in recent months.
The Milan office of the Edelman public relations firm, which has been hired to represent the Ricketts, say the entire family is interested in the club for "a medium-to-long-period investment" and wants to create "a strong bond with the city".
A Ricketts statement said: "The entire family and the family's financial resources are involved in this matter.
"The Ricketts family brought a championship to the Chicago Cubs through long-term investment and being great stewards of the team ... They would bring this same approach to AC Milan."
The interest comes as seven-time European champions Milan face UEFA sanctions over a breach of financial fair play regulations.
Last summer Milan spent more than £200m on players after Chinese investors Rossoneri Sport purchased the club from Silvio Berlusconi for £600m in April 2017.
The concerns around AC Milan are related to their owners' ability to repay loans they took out to finance the purchase of the club. American hedge fund Elliott Management is reported to have loaned Rossoneri Sport, which is fronted by AC Milan president Li Yonghong, more than £250m.
Milan, who have won 18 Serie A titles, qualified for the Europa League after they finished sixth last term but risk being excluded from the competition as part of the possible UEFA sanctions.
