Fininvest, the holding company of AC Milan chairman Silivio Berlusconi’s family which owns the club, began talks with the consortium in May.
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Silvio Berlusconi’s Fininvest holding company said Friday that it has signed a preliminary contract to sell 99.93% of AC Milan to a Chinese consortium.
The statement said the investors, represented by Han Li, operate through the management company Sino-Europe Sports Investment Management Changxing Co.
ROME-A consortium of Chinese investors has signed a preliminary contract to buy Italian soccer club AC Milan, valuing it at about €740 million ($825.8 million).
The contract, that is legally binding for both parts, will be closed before the end of 2016, when the authorizations from Italian and Chinese authorities will be obtained. Nevertheless, with a new coach and money to invest in the squad, they will be optimistic about what the future holds, provided that they don’t hit any further stumbling blocks with ht new investment group.
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“The agreement requires the buyers to undertake significant capital increases and liquidity injections aimed at strengthening AC Milan’s financial structure, for a total amount of €350m over a three-year period”.
