Indonesian businessman Erick Thohir has signed an agreement with Inter Milan owner Massimo Moratti to take a controlling stake in the Italian soccer club. Moratti has said that "everything's been signed".
After months of negotiation, the addition will be the latest in Thohir's portfolio of sports teams, which includes Major League Soccer club D.C. United, and part ownership of the NBA's Philadelphia 76ers.
Italian media have reported that Thohir might pay up to €350m (£297m) for a 75 per cent stake of the cash-strapped Serie A club, putting the club's total worth at around £400m.
Thohir is part of a growing trend of individuals who own stakes in more than one sports team. He is among the ranks of the Glazers (owners of Manchester United and the Tampa Bay Buccaneers), Stan Kroenke (Arsenal, St. Louis Rams, Denver Nuggets, Colorado Avalanche), Shahid Khan (Jacksonville Jaguars, Fulham).
Inter Milan's revenues are the 12th highest of any football club, according to the Deloitte Football Money League 2013 report. The team generated revenues of £150.4m in 2011-12.