Report: Lim set to make 500m euro Milan offer

Media reports in Italy yesterday said that Singaporean businessman Peter Lim is set to offer 500 million euros ($868m) to AC Milan for a percentage of shares in the club.

The billionaire investor was previously thought to have offered 300 million euros earlier this month. That offer was rejected, but now Lim appears to have increased his offer.

According to Gazzetta dello Sport, the Rossoneri have received the second offer from Lim and are considering it carefully.

But a spokesman for Lim said: "We don't want to comment on market rumours."

In the past, Milan owner Silvio Berlusconi revealed that he was willing to discuss potential investment but only at the expense of a 30 per cent of ownership.