AC Milan takeover might collapse this weekend
Investors withdrawal might collapse AC Milan takeover.
The takeover of AC Milan is on the verge of collapsing unless the Chinese investors trying to buy the club come up with another 80 millions euros by this weekend.
The long-drawn out deal, which values the Serie A club at £630m, was supposed to be completed three weeks ago on March 3.
Chinese businessman Yonghong Li was initially supposed to head a consortium of many Chinese investors to buy the San Siro club from Fininvest, but the situation has abruptly changed. Li is now reportedly the sole investor, and as such a postponement has been requested in order for him to complete the takeover.
The coming hours are likely to be crucial for the conclusion of the purchase and the immediate future of Milan, who lie off the pace in seventh in the Serie A standings, needing an upturn in form if they are to reach the Champions League next season.
AC Milan president Silvio Berlusconi says he would “not hesitate” in taking back control of the Serie A club if the proposed sale to the Chinese investor falls through.