AC Milan set to finalise sale to Chinese consortium
MILAN: AC Milan have announced a shareholders’ meeting for tomorrow to complete the sale of the club.
Closing the sale to a group of Chinese investors has been scheduled for tomorrow since a postponement was agreed at the end of last year by Silvio Berlusconi’s holding company and Sino-Europe Sports.
The meeting is a formality as Berlusconi owns 99.93 per cent of the club, which he purchased 30 years ago.
The deal with the Chinese group, which includes the participation of a Chinese state investment fund, values the club at €740 million (RM3.6 billion), and requires the investors to spend €350 million over three years on improvements.
A press conference is expected on Saturday.