AC MILAN’S CHINESE TAKEOVER IN DOUBT
According to several reports, Sino-Europe Sports have paid €20m, but Milan want the full €100m deposit by Friday.
The takeover by a Chinese conglomerate remains up in the air after the closing was postponed several times over the last few months.
Silvio Berlusconi’s Fininvest company are prepared to delay the closing further, but only if they receive another non-refundable €100m deposit by this week.
It was meant to have already arrived, but multiple reports this evening suggest only €20m were paid in today.
It’s suggested Sino-Europe Sports chief Yonghong Li has approached two different banks to get the necessary funds, so only the first €20m have come through so far.
Berlusconi is said to be unimpressed and wants the full €100m deposit by Friday or he may well pull the plug on the entire takeover.
SES have already paid €100m and are due to hand over another €360m to complete the takeover by April 7.