NEWS
Wednesday April 27 2016
Report: Berlusconi to sell Milan

Reports say Silvio Berlusconi has agreed to sell Milan to a Chinese group of investors for €700m.

Tuttosport writes today that Berlusconi has accepted the offer to sell the Rossoneri after a long and intense series of negotiations.

The talks were concluded at a law firm in Rome according to the newspaper, who believe that a preliminary agreement will be signed between Friday and Monday.

There were reports this morning that Jack Ma is leading the Chinese group, but the official identity of the investors is still unknown.

Tuttosport believes that Robin Li, the sixth most powerful man in China according to Forbes, is also a possible investor.

The group will take over 100 per cent of the club’s shares, an initial 70 per cent and then the further 30 per cent over the course of a year.

The Chinese bidders put between €700-720m on the table to buy the San Siro giants, says the report.

The phase of due diligence, where the club’s accounts are analysed, was completed last week according to the paper.