NEWS
Thursday January 12 2017
Milan sale moved forward?

Reports suggest Sino-Europe Sports’ takeover of Milan could be moved forward to mid-February.

The Chinese consortium has agreed a deal to buy the Rossoneri, but the transaction has been hit by a series of delays.

Having intended to complete a takeover before the end of 2016, the date for closing has been pushed back to March 3, but La Stampa believes it could be done in mid-February.

As previously reported, Sino-Europe are unlikely to get permission from the Chinese government to move the funds out of the country, so a loan from a European-based Chinese company is expected.

That would allow the deal to be completed in time, with the loan paid back once permission has been granted to transfer money out of China.