Milan’s holding company Fininvest has confirmed that a Chinese consortium has been granted exclusivity for a potential sale.
The group from the Far East has been in negotiations for months to take over a stake of the club, and it was reported this morning that President Silvio Berlusconi had given the OK.
A Fininvest board meeting followed, and it was officially announced that the Chinese group had been granted exclusivity shortly after.
Milan’s holding company Fininvest has confirmed that a Chinese consortium has been granted exclusivity for a potential sale.
The group from the Far East has been in negotiations for months to take over a stake of the club, and it was reported this morning that President Silvio Berlusconi had given the OK.
A Fininvest board meeting followed, and it was officially announced that the Chinese group had been granted exclusivity shortly after.
“Fininvest has reached an agreement for a period of exclusivity with a group of Chinese investors for the sale of a portion of AC Milan,” an official Press release confirmed.
“At the same time, a reminder of the understanding was signed, which will be the starting point to launch negotiations.
“The exclusivity period has been designed to be compatible with the complexity of the issues which need to be discussed, the needs of the club and the commitments on the footballing calendar.”
The announcement does not mean that a deal has been done, but rather that Berlusconi will not hold talks with any other potential investors.