Chinese investors are close to acquiring 80 percent of Milan Football Club shares from the Berlusconi family.
The China Daily said Friday that investors will buy the remaining 20 percent within the next two or three years.
“The two sides are discussing the acquisition by the Chinese investors of 80 percent of the club’s shares, and negotiations are still going on,” the newspaper quoted a source close to the negotiations as saying.
Former Italian Prime Minister Silvio Berlusconi – whose holding company owned by his family Finnvest – owns the Milan club – entered into negotiations last May with a Chinese partnership aimed at selling most of the shares in the club in order to provide the necessary liquidity to improve Ada e, especially since he did not win any competition Major five years ago.
The Reuters news agency said earlier that Chinese investors estimated the value of the club at about 750 million euros, including the debt it had paid.
The source also told the Chinese newspaper that Fininvest feels confident that a final agreement can be reached next week, although some important legal and financial details remain unresolved and require Berlusconi’s approval.
The Chinese electronics company Suning agreed last month to buy almost 70 percent of the shares of arch club Milan Inter Milan with 270 million euros in the largest deal concluded by a Chinese company to buy a European football club until that date.