NEWS
Thursday July 21 2016
Milan sale: more details, more questions

The names of Milan's prospective buyers are confirmed as Sonny Wu and Steven Zheng, but new questions are being raised about the future.

The head of private equity GSR Capital emerged as the mysterious bidder for the Rossoneri club yesterday, as revealed by Bloomberg.

Today's edition of the Gazzetta dello Sport report that they verified the detail and are able to confirm it, although there has been no official statement yet from either the club or the investors.

The Rosea adds that businessman Steven Zheng, who works in the field of solar power, is also part of the consortium that wishes to buy the club.

Some doubts have been voiced about these new investors as Wu is not in Forbes' list of the richest men in the world, but in truth the financial details are still unclear. Presumably Milan wouldn't be backed by Wu's capital alone but by the entire GSR company, which has much greater liquidity.

As the deal now involves the sale of 100 per cent of the Diavolo's shares rather than just a majority, there has been a delay in finding an agreement. However, the Gazzetta claims - not for the first time - that matters should be settled next week.

The new make-up of the club remains to be seen. Barbara Berlusconi will almost certainly be removed from the board of directors, while joint-CEO Adriano Galliani may or may not remain in the business.