Football: Indonesian tycoon Erick Thohir buys stake in Inter Milan

Inter Milan owner Massimo Moratti (above) said on Tuesday he had signed a deal to sell a stake in the Italian soccer club, after months of negotiations with Indonesian tycoon Erick Thohir. -- FILE PHOTO: AFP
Inter Milan owner Massimo Moratti (above) said on Tuesday he had signed a deal to sell a stake in the Italian soccer club, after months of negotiations with Indonesian tycoon Erick Thohir. -- FILE PHOTO: AFP

MILAN (REUTERS) - Inter Milan owner Massimo Moratti said on Tuesday he had signed a deal to sell a stake in the Italian soccer club, after months of negotiations with Indonesian tycoon Erick Thohir.

"Everything's been signed, I believe there will be a press statement in a few hours," Moratti told reporters outside his offices in Milan.

Italian media had previously said Thohir, a wealthy businessman with an interest in various sports ventures globally, might be willing to pay up to 350 million euros (S$591.5 million) for up to 75 per cent of the cash-strapped Italian Serie A club.

Inter, a loss-making club with debts of about 300 million euros, are traditionally one of the three biggest clubs in Italian soccer, along with champions Juventus and city rivals AC Milan.

They have not won a trophy since 2010 and finished a disappointing ninth last season, missing out on a place in the lucrative Champions League.