The latest reports suggest Sino-Europe Sports won’t be granted an extension for their Milan takeover, but a new deal could be struck.
It was officially confirmed today that the Chinese consortium’s acquisition of the Rossoneri has once again been delayed, with fears it could collapse altogether.
Now Sky is reporting that Silvio Berlusconi and Fininvest will not grant another extension, but that doesn’t mean the deal is dead.
If Sino-Europe pay another €100m by next Friday, then there is a gentleman’s agreement to renegotiate the current contract between the two parties, which expires at midnight tonight.
There is no written accord, but lawyers have shaken hands, and the deal will collapse entirely if €100m doesn’t arrive next week.
The Chinese group released a statement earlier today reaffirming their commitment to a takeover.