Minority Sixers owner buys majority stake in Inter Milan for $475M

Erick Thohir is part owner of the Philadelphia 76ers and D.C. United. (Patrick McDermott/Getty Images)

An Indonesian businessman has finalized a deal to purchase a 70 percent stake in the Italian soccer club Inter Milan, as reported Tuesday by the Associated Press. 

The president of the franchise, Massimo Moratti, said "everything has been signed," making 43-year-old Erick Thohir the second foreign owner in the Italian soccer league; the first was a group of Boston executives who took over Serie A club Roma in 2011. As the AP reported, it's unclear whether Moratti will remain president.

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Thohir is no stranger to sports team ownership. In 2011, he purchased a minority stake in the Philadelphia 76ers with a group of owners that included Will Smith. In 2012, he bought in as part owner of D.C. United.

According to Inter's site, Thohir said he's excited to move forward as the new majority owner:

"I am an entrepreneur, but first of all I am a supporter and a sports lover. I cannot wait to put our passion and international experience at the service of this fantastic Club and its supporters.”