The holding company owned by the Berlusconi family announced a few hours ago that they are entering into negotiations with a Chinese consortium for selling a majority stake in AC Milan.
Fininvest announced they are going to enter a period of exclusivity (45 days) during which they will negotiate the price for a stake in AC Milan. “The exclusive negotiation period’s duration is compatible with the complexity of matters that both parties will have to discuss about and with the agenda of club.” (via Calciomercato)
For months, Milan was at the centre of rumours of a potential Chinese takeover. This announcement, however, does not guarantee a deal with the investors over the purchase. It is only a confirmation of negotiations which are underway and further that Berlusconi will not be able to hold negotiation talks with any other party outside the consortium.
“At the same time, a reminder of the understanding was signed, which will be the starting point to launch negotiations.
“The exclusivity period has been designed to be compatible with the complexity of the issues which need to be discussed, the needs of the club and the commitments on the footballing calendar.”(via FootballItalia)
Earlier today morning, reports had emerged that Berlusconi, after months of speculation, had finally given his consent to the sale of a considerable share of AC Milan. Berlusconi made no secret of the fact that he would like to part with the club only if he finds a ‘suitable buyer’ who would understand what the club stands for.
“To those who tell me a sale is necessary, I say that I’ve been trying to do that for a year, but I’d like to leave Milan in good hands … preferably Italian ones”, Berlusconi said (via Reuters). Fininvest chairwoman and CEO Marina Berlusconi was also present at the meeting with the investors.
This could spell the end to the Silvio Berlusconi era of Milan, which is also the most successful period of 30 years in Milan’s history having won a astonishing five European trophies, one Club World Cup and eight scudetti.
