More details are emerging on Milan sale negotiations to a Chinese group, including the €740m figures, clauses and transfer freeze.
Today Silvio Berlusconi’s company Fininvest released a statement confirming they were in exclusive talks with the Chinese conglomerate.
More details are emerging on Milan sale negotiations to a Chinese group, including the €740m figures, clauses and transfer freeze.
Today Silvio Berlusconi’s company Fininvest released a statement confirming they were in exclusive talks with the Chinese conglomerate.
It’s reported that exclusivity deal will last 45 days to June 15, but that President Berlusconi retains a series of clauses allowing him to back out.
The Corriere dello Sport claims due diligence will begin tomorrow and Berlusconi is prepared to sell 70 per cent of the club immediately.
The other 30 per cent would then be sold over the course of the next year.
The entire cost of the operation is believed to be €740m.
Berlusconi included a set of clauses that give him a great deal of control over the situation, such as access to all the names of those involved in the purchase and the ability to break off talks.
Meanwhile, MilanNews.it suggest there is no specific ‘freeze’ on transfer activity during the period of exclusivity.
Rather, any big move would need to be double-checked with the Chinese group before going through.
This does not include contract renewals, such as that for midfielder Riccardo Montolivo.