Bee Taechaubol has agreed a deal in principle to buy a significant share in AC Milan.
The Thai businessman had been in talks this week with club president Silvio Berlusconi and has now reached an agreement with the Rossoneri's parent company, Fininvest.
A statement from Mr Bee on Saturday read:
"I am very much looking forward to being a part of AC Milan’s history. It is a legendary club with a huge following worldwide, including in my country. If you walk around the streets of Bangkok, you will see countless Rossonero shirts. To be a part of the club is an honour, and a dream come true.
“This is a sound investment, and I am looking forward to tremendous success on all fronts with AC Milan. Once we have concluded the deal, we will roll up our sleeves and get to work. The club is not where it should be: fighting for the Serie A title, and in the final stages of the Champions League.
"With hard work, dedicated management and wise investment I am confident we can bring back the glory and trophies that AC Milan fans expect.
“I’d like to thank everyone in Italy for the way we have been received: Mr. Berlusconi, his family, and the Fininvest team have all been very welcoming. I’d also like to thank the Italian journalists for their patience, and most of all, the AC Milan fans.
“Our financial partners are firmly behind us, and are looking forward to the conclusion of the deal. Doyen Sports has also been a great help, and having them as partners will undoubtedly be a major asset for us in the future. We look forward to providing more information in the coming days.”
The company that control Berlusconi's financial interests, Fininvest, released a statement stressing the Italian politician remains at the helm of the San Siro club.
"The meeting in Milan with Mr. Bee was positive," the company said. "They discussed issues central to the future of the club; for example, the promotion and marketing of the brand in Asian countries.
"The collaboration proposal - yet to be decided upon in many ways - suggests an acquisition will be made by Mr Bee's financial consortium for a minority stake in the club. AC Milan remains firmly in the hands of Silvio Berlusconi and Fininvest."
It is not yet clear whether the purchase will see Taechaubol replace Berlusconi, who has been the owner of Milan since February 1986, as a majority shareholder in the long-term.
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