Reports in China claim an agreement for the sale of Milan will be reached by June 20.
A consortium from Beijing has been granted exclusivity to negotiate the takeover of 70 per cent of the club, and negotiations with President Silvio Berlusconi are ongoing.
However, China Daily is now reporting that the group has agreed a deal to take 70 per cent of the Rossoneri, with negotiations planned for the remaining equity.
Reports in China claim an agreement for the sale of Milan will be reached by June 20.
A consortium from Beijing has been granted exclusivity to negotiate the takeover of 70 per cent of the club, and negotiations with President Silvio Berlusconi are ongoing.
However, China Daily is now reporting that the group has agreed a deal to take 70 per cent of the Rossoneri, with negotiations planned for the remaining equity.
Under the agreement, Berlusconi would remain as President for the next three years, as the Chinese group gradually acquires the remaining 30 per cent of his shares.
China Daily believes that a final agreement will be reached between June 15 and 20, barring any changes to the arrangements.
It's believed four of the investors are Robin Li, Eric Xu, Hui Ka Yan and He Xiangjian.