Milan sale put off to March
Print Edition
THE sale of Italian giant AC Milan has been pushed back three months to March after a request by the Chinese consortium which is taking over the seven-time European champion.
Milan owner Silvio Berlusconi and Sino-Europe Sports had agreed a date of December 13 for the conclusion of a deal that valued the club at 740 million euros (then US$825.4 million) and will see Milan join city rival Inter in falling under Chinese ownership. Yesterday SES and Berlusconi’s holding company Fininvest agreed on a new date of March 3 following a request by the Chinese consortium, which has already made a first down payment of 100 million euros to buy the Serie A giant. Another instalment of 100 million euros will be paid to Fininvest by December 12, according to a joint statement released by the parties, with the conclusion of the deal set for March 3.
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