Inter Milan, a top club in Italy’s Serie A, has sold 70% of the club to a group of investors from Indonesia. The investors were led by Erick Thohir, who is also part owner of MLS side D.C. United. The Moratti family, long time owners of the club, had decided to sell due to a dip in profits and the large amount of money needed to remain a top team in Italy and the world. Inter Milan’s official website released a few statements from President Massimo Moratti.
In a statement released by the club, Inter explained the money from the sale would not go to the Moratti family directly, rather, “The family will be diluted in the deal.” While the details of the deal have not been released, it has been rumored that the sale cost approximately $501 million (€350 million). The sale follows a recent trend of foreign ownership in soccer clubs around the world. Current first place AS Roma was sold in 2011 by the Sensi family to the American owners. It is reported that former Italian Prime Minister, Silvio Berlusconi, may also sell top club AC Milan.