NEWS
Tuesday September 6 2016
Official: Chinese pay Milan €85m

Milan’s holding company, Fininvest, has officially confirmed a deposit of €85m from Sino-Europe Sports.

The Chinese consortium has signed a preliminary agreement to buy the Rossoneri from Silvio Berlusconi, and had already deposited €15m.

Part of the deal meant a further €85m had to be paid within 35 days of the preliminary agreement, and reports today suggested that could arrive this afternoon.

“Fininvest is pleased to confirm the payment made by Sino Europe Sports Investment Management Changxing Co.Ltd of the second installment of the downpayment of €100m agreed in the preliminary contract to sell AC Milan, signed on August 5 this year,” an official statement confirmed.

“As agreed by the set deadlines, the payment of €15m was immediate from the moment of the first signature, and today the Chinese investors have paid Fininvest the remaining €85m.

“This is an important step forward in closing the transaction by the end of the year.”