Confirmed: AC Milan takeover postponed again

01 mar 2017

AC Milan closing date has been postponed again sparking fears among rossoneri fans that the Chinese takeover won’t take place eventually. Chinese Consortium Sino-Europe was supposed to finalize the deal by mid December but having failed to rack up € 320 million by the deadline day, the closing date was postponed to the 3rd of March.

It is understood, however, that the takeover won’t take place in two days time either as various reports in Italy – from Sky Sport to La Gazzetta dello Sport – have announced that the new closing date has been scheduled for the 31st of March.

A shareholders’ meeting will take place tomorrow but there will be no official announcement regarding the takeover, Italian media claim.

In addition to that Goal.com claims that Chinese Consortium does not include strong partners. No big Chinese bank will be involved in the deal but Chinese Institutes will only give loans to investors interested in buying a majority share in AC Milan.

Sky Italia, in the end, claims that the deal could even collapse in case Sino-Europe fails to pay a further € 100 million fine for the delayed closing date. That would be the third € 100 million payment completed by the Chinese Consortium since negotiations begun last summer.