Archive: Oct 2013

Moratti leaves Inter Milan as Indonesian Business Man Tycoon Buys Majority Stake

Italian football club Inter Milan has become the latest European club to be taken over by foreign investors.

inter milan

A trio of Indonesian businessmen led by media tycoon Erick Thohir have bought a 70% stake in the club.

The club did not disclose the value of deal, but various reports estimated it to be between 250m – 300m euros ($340m; £210m – $405m; £250m).

The two sides had been negotiating for some time amid efforts by the club to bring in fresh capital.

Massimo Moratti, the president of the club, said the club’s “history is going to be enriched by a new season thanks to our new international partners who, I am sure, will contribute to a continued string of successes”.


“The new partners’ enthusiasm and pragmatism are certainly a guarantee for the future,” he added in a statement.

Mr Thohir is also a co-owner of DC United, a Major League Soccer club in the US and has also served as vice president of the Indonesian Olympic Committee.

The other two partners in the deal are Rosan Roeslani and Handy Soetedjo.



Mr Roeslani also owns a stake in DC United, while Mr Soetedjo was involved in the purchase of basketball team Philadelphia 76ers of the National Basketball Association (NBA) in 2011.

IRS plane crash averted in Kaduna

Another plane crash was Sunday was averted in Kaduna as IRS Airline plane with 89 passengers on board was assisted to land in Kaduna as the plane developed mechanical problems. The plane had hydraulic problem and on successful landing had to disembark passengers on the runway and not taxi to parking place “ in accordance with the procedure”. Reacting to the incident , The Managing Director of IRS, Mr Yemi Dada said “

On final approach to Kaduna today on our flight 3390 with 89 passengers, our cockpit crew got a low hydraulic in system 1 warning and decided to take precautionary measures to ask for ground confirmation that all gears were down and locked and the aircraft landed normally after the control tower had confirmed that the gears were all down normally. The crew proceeded to land but followed procedure to disembark on the runway and not taxi in accordance with the procedure.” “All passengers disembarked normally and the aircraft was towed to ramp.

The maintenance crew are inspecting to confirm the issue that caused the warning to the crew. Updates will follow shortly “ This incident is coming few days after Associated Aviation plane carrying the body of the former governor of Ondo State, Chief Segun Agagu and 20 others crashed 31 seconds after take-off from the Murtala Mohammed Airport, MMA, Lagos runway killing 15 of the 20 people. The Accident Investigation Bureau, AIB, in its preliminary report of the accident released to journalists in Abuja said investigations revealed that the aircraft was already faulty before the cockpit crew decided to embark on the journey. And the captain in command, Capt. Abdulraham Yakubu insisted that the crew must continue with the journey even when the co-pilot suggested that the flight should be aborted. The aircraft crashed exactly 31 seconds after take off from the runway. – See more at: