There are several reports suggesting that the date has finally be officially set and on the 2nd of December 2016, the Chinese will become the new owners of Milan.
The initial rumours suggested that Milan will be sold by the end of the month but according to La Repubblica, Sky Italia and today’s La Gazzetta dello Sport among others, there is now an official date for a the final ‘closing’, or rather two dates.
A shareholders’ meeting has been scheduled for December 2 and that’s when the passage of 99.93% of the Milan shares to the Chinese, Sino-Europe Sports, from the hands of Silvio Berlusconi’s Fininvest, will most likely take place.
The hope is to close everything and announce ‘SES’ as the new owners on that date (Friday), but if there will be some problems over the next weeks then the ‘closing’ will take place on December 13 (Tuesday), when another shareholders’ meeting will happen. In addition to the announcement, the appointment of a new Board of Directors is on the agenda, as well as the confirmation on the exits of current CEO’s and VP’s Barbara Berlusconi and Adriano Galliani, who will hand in their resignations.
The Chinese have agreed to buy Milan for €740m (including €220m debt) and already made a €100 million deposit in September; La Repubblica’s Luca Pagni writes that future CEO Marco Fassone, who just returned from China recently after meeting the new owners and many possible new sponsors, has promised to Fininvest that €440m more will be paid by SES in the week after the derby.
As per the preliminary agreement, ‘the acquirers have to undertake significant capital increases and liquidity injections aimed at strengthening AC Milan’s financial structure, for a total amount of €350 million over a three-year period’. It remains to be seen how much will be spent in January.
Within a month, Milan will be Chinese and the 30-year reign of Berlusconi will come to an end. The Rossoneri, meanwhile, focus on the pitch and in 9 days they face Inter at Stadio San Siro.