Milan is heading for China, said the main owner of the football club Silvio Berlusconi. According to the Calciomercato portal, he told reporters this after being discharged from the hospital, where he underwent heart surgery. Since last year, the media, citing sources, reported on Berlusconi’s negotiations on the sale of the Rossoneri to Taiwanese or Chinese investors. Bloomberg reported in April that a group of Chinese investors are discussing buying at least 50% in Milan and hoping to negotiate a deal by June. Even the founder of Alibaba, Jack Ma, was named among the possible buyers, but Ma made it clear that he was not involved in the negotiations. Fininvest, through which Berlusconi owns Milan, entered into exclusive negotiations with a potential buyer in May, Reuters recalls.
On July 5, Berlusconi announced that he sold the club to those who can breathe new life into it. This is a consortium of Chinese investors who agreed to pay Berlusconi 400 million euros within two years. He did not name the specific participants in the transaction, noting only that this is “an important group with state support.” The BBC notes that if the price of the deal is indeed that, it means that the entire club could be valued at 750 million euros, including debt. Forbes estimates Milan as a whole at $ 775 million. The BBC adds that, according to a number of media reports, negotiations have not yet ended and the parties are discussing the latest details.
A preliminary agreement with the Chinese could be concluded early next week, at the latest on July 15, informed Reuters sources say. According to them, at first the consortium will receive 80% of the club, but will soon consolidate this asset. According to Sky Sport, the deal could be announced on July 12th.
Former Prime Minister of Italy has been host to Milan for 30 years. He started looking for a buyer for this club, which is not in the best shape from a financial and sports point of view. The team finished the 2015-2016 season in Serie A on the seventh line of the standings. Milan suffered a € 93.5 million loss in 2015 and needs additional investment to compete with the strongest European clubs, many of which are backed by Asian and Arab investors. Last year it became known that Berlusconi is negotiating the sale of a stake in Milan to Thai investor Bee Techaubol, head of Electronics Industry. It was reported that the deal could have been concluded by September 30, but this did not happen. In January 2016, La Gazzetta dello Sport wrote that Bee was offering 480 million euros ($ 540 million) for 48% in the company. According to Bloomberg, Bee retained interest in Milan, but was forced to seek new sources for the deal following the refusal of the Chinese corporation Citic Group to support the purchase. Reuters, citing sources, reports that the deal fell through because Berlusconi changed his mind at the last moment, but now friends advised the 79-year-old politician and businessman to sell the club dear to his heart, taking into account the state of his health.
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