Silvio Berlusconi at Milanello on the 11th of December 2015 (@acmilan.com)
It has now been made official that the Milan sale to the Chinese has been postponed by (at least) three months.
Fininvest and Sino-Europe Sports Investment Management Changxing Co. Ltd released a joint statement today (Wednesday), announcing the latest delay in the tiring saga that is the Milan sale:
“Fininvest and Sino-Europe Sports reached an agreement concerning the postponement to March, 3rd of the deadline for the closing of the acquisition of the stake owned by Fininvest in Milan.
“According to the agreement – subsequently approved by Finevest’s Board of Directors – SES will have to pay further SES will have to pay further EUR100 million by December 12th, in addition to the EUR100 million already deposited, after the signing of the shares purchase agreement.
“The agreement on the postponement reaffirms that until the closing, Milan’s management will continue to be based on shared decision making.” This also includes the upcoming January transfer market, who according to MilanTV yesterday, will be managed by both the current management and the Chinese but won’t be financed by either of them – player sales would fund arrivals.
Even though it’s starting to feel as though it will never arrive due to the constant and recurring delays, there is still little doubt over the fact that Milan will eventually be sold to Sino-Europe Sports.