Report: Berlusconi confirms Milan sale

by | Apr 2, 2015 12:55

It’s reported Silvio Berlusconi has privately admitted that selling Milan to Chinese investors is a 'done deal'.

Despite the head of one of the parties thought to be interested distancing himself from any takeover, it’s believed that an agreement has been reached with some Chinese investors.

It’s reported Silvio Berlusconi has privately admitted that selling Milan to Chinese investors is a 'done deal'.

Despite the head of one of the parties thought to be interested distancing himself from any takeover, it’s believed that an agreement has been reached with some Chinese investors.

AskaNews claims that Berlusconi has said in private meetings that “the sale of 75 per cent of Milan is a done deal”, with only a few months needed to iron out the details.

The news agency reports that the deal would be worth around €1 billion, with Berlusconi’s daughter Barbara retaining her role as CEO.

It is not clear whether current joint-CEO Adriano Galliani would be asked to stay on as part of the agreement.

AskaNews believes that the Chinese government is playing a large role in the operation, in order to promote football in the country, with the long-term aim of making the national team a major world power.

Milan are said to be the most popular team in China, so the acquisition of the club would be viewed as an important step along this road.

Berlusconi is reportedly set for another meeting with the investment group at his Arcore residence in the next 24 hours.

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