The Chinese group in the process of buying Milan allegedly provided false documents earlier in the transaction.
Sino-Europe Sports is looking to complete a takeover deal for the Rossoneri before the end of the year, and has already paid €100m in two non-refundable deposits.
However, Bloomberg is reporting that to prove their finances, the consortium provided documents on Bank of Jiangsu Co stationery, which the lender says it never provided.
The Chinese group in the process of buying Milan allegedly provided false documents earlier in the transaction.
Sino-Europe Sports is looking to complete a takeover deal for the Rossoneri before the end of the year, and has already paid €100m in two non-refundable deposits.
However, Bloomberg is reporting that to prove their finances, the consortium provided documents on Bank of Jiangsu Co stationery, which the lender says it never provided.
Sino-Europe Sports “does not confirm it has ever sent such a document” in an email to Bloomberg and insists “we stay committed on the closing of the deal”.
Fininvest, Silvio Berlusconi’s holding company which owns Milan, “does not confirm having received the specific documentation under discussion and has no intention to comment on it”.
It’s further reported that the group didn’t have all of the necessary funds in place when a deal was agreed, and it is seeking new investors to try and get the sale over the line before January.