NEWS
Friday December 2 2016
Milan meet Chinese investors

President Silvio Berlusconi is confident Chinese buyers can take Milan “back to the top of world football,” but a meeting today discusses closing delays.

The sale negotiations continue to drag on, as the closing date has been set for December 13, but Berlusconi confirmed last week that it could be postponed by four to six weeks to allow for authorisation to come through from China.

According to Bloomberg in the US, a meeting is being held today to discuss delaying the purchase to 2017.

“The payment of an additional non-refundable deposit of as much as €100m to delay the closing to early next year is among the options under discussion.

“No final decision has been taken because Sino-Europe is still pushing to get approval to transfer funds by the Dec. 13 closing date. Fininvest and Sino-Europe declined to comment.”

Sino-Europe have already made an initial deposit of €100m, but could finally reveal the full list of investors to Fininvest today.

“I think it will all go as planned,” Berlusconi told the Corriere della Sera today.

“It’ll be concluded with this important group of Chinese businessmen who care a great deal and are real Milan fans, as the club has 243 million supporters in China.

“I think they are capable of making all the necessary investments to take Milan back to the top of world football, something I would not be able to do.”