Milan Vice President Adriano Galliani confirms that there will be no closing of the takeover with Sino-Europe Sports today.
After a series of postponements, an announcement in December read that the final date for closing the deal was set for today, March 3rd.
However at a shareholders meeting this morning, Galliani confirmed that this would not be the case, amidst rumours that SES had been unable to raise the necessary funds.
Milan Vice President Adriano Galliani confirms that there will be no closing of the takeover with Sino-Europe Sports today.
After a series of postponements, an announcement in December read that the final date for closing the deal was set for today, March 3rd.
However at a shareholders meeting this morning, Galliani confirmed that this would not be the case, amidst rumours that SES had been unable to raise the necessary funds.
"Closing can not take place today because the conditions of the contract with SES have not been met," the 72-year-old told reporters after the meeting.
"We are positively considering the possibility of entering into an agreement with SES for the sale of Milan shortly.
"Is this a joke from Fininvest? Why would it be? There's nothing wrong. The Covisoc compliance, salaries to players, coaches and staff is all in order.
"Corporate life quietly goes forward."