The deal to sell Milan to a Chinese investment group is set for this summer, but President Silvio Berlusconi is reluctant.
The Rossoneri are looking for new business partners after negotiations to sell the club to broker Bee Taechaubol came to nothing.
Their financial situations is reportedly dire, as they look to close the season with a deficit of €89m. According to Tuttosport, such a big loss would force them to balance their books by selling some of their best players, including striker Carlos Bacca.
The deal to sell Milan to a Chinese investment group is set for this summer, but President Silvio Berlusconi is reluctant.
The Rossoneri are looking for new business partners after negotiations to sell the club to broker Bee Taechaubol came to nothing.
Their financial situations is reportedly dire, as they look to close the season with a deficit of €89m. According to Tuttosport, such a big loss would force them to balance their books by selling some of their best players, including striker Carlos Bacca.
Milan may spare themselves this fate if they can find a viable investment partner, and a deal is believed to be on the way with a Chinese conglomerate controlled by the Pekin government.
According to today's edition of La Repubblica, the negotiations are already at a very advanced stage, and the Chinese group would pick up 50% of Milan's shares for a price of approximately €300m as early as this June.
This is a considerable step down from Mr Bee's touted investment of €480m, but it's believed to be a more realistic reflection of Milan's value, especially in light of the disappointing results of the last few years.
However, there appears to be some tension surrounding the deal as President Silvio Berlusconi is reluctant to sell the club, even as the club's parent company Fininvest is strongly pushing him to agree to the deal.
Berlusconi is reportedly unwilling to give up control of the club, but the Chinese group demand to have a say in the financial strategy and the make-up of the board of directors.
It is believed that they would replace joint-CEO Adriano Galliani, who is seen as responsible for the club's decline.
Should the disagreement with Berlusconi be overcome, the deal would be ready to go in June.