REPORT: BERLUSCONI SET TO SELL 75% OF MILAN IN A €1-1.5 BILLION DEAL, BARBARA TO KEEP HER POSITION AS CEO
Berlusconi looks on during Milan-Cagliari at Stadio Giuseppe Meazza on May 14, 2011. (Photo by Dino Panato/Getty Images)
Silvio Berlusconi has reportedly said that ‘it will take a few more months’ but a Chinese takeover is apparently on its way to Milano and Casa Milan.
Every day there is a new rumour about the future of Milan and talks about President Berlusconi selling shares of Milan are intensifying. Between rumours and denials however, the intention of the former Prime Minister to sell seems real.
As reported today (Thursday) by the Italian news agency AskaNews, the deal that will see Milan changing hands is essentially done. The agency reports that Berlusconi has said in ‘private meetings’ that the sale of 75% of Milan to Chinese investors is a ‘done deal’ although it will still take ‘a few months to polish the details’. AskaNews appears to be convinced that the faith of Milan is going to be similar to that of Inter who had 70% of its shares sold to the Indonesian Erick Thohir in 2013.
It’s reported that the deal is expected to exceed €1b but the President in those meetings speaks of a sum around €1.5b . It’s also said that the Chinese consortium are strongly backed by the Chinese government who want to make football more popular and the Prime Minister of China ‘plays a central role in the operation’. AskaNews also claims that Milan is the most well-known club in China.
Barbara Berlusconi would apparently keep her position as the club’s CEO but there is no word on whether Adriano Galliani would be involved in this version of Milan, owned by Chinese investors. Berlusconi will reportedly have another meeting with the investors in Arcore within the next day.
A late April’s Fool’s joke from AskaNews or a legitimate story? Only time will tell. Sky’s sources haven’t confirmed it and claim that Berlusconi may sell 30 per cent, 75 percent or not sell at all.
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