NEWS
Monday August 8 2016
Report: Milan sale in November

The sale of Milan to Chinese investors will be completed by November 4, according to reports.

Club President Silvio Berlusconi has signed a preliminary agreement to sell the Rossoneri to a Chinese consortium, with an initial €100m investment expected in the next month.

After that, there are final details, paperwork and investment to sort out before the official closing of the deal.

According to Sky, the aim is to achieve the definitive transfer of 99.93 per cent of shares from Fininvest to Sino-Europe Sports by November 4.

Prospective new owner Yonghong Li is obliged to clear debts totalling €220m and invest a further €350m into the San Siro club over a three-year time frame.