- Associated Press - Tuesday, February 28, 2017

MILAN (AP) - AC Milan has announced a shareholders’ meeting for Friday to complete the sale of the club.

Closing the sale to a group of Chinese investors has been scheduled for Friday since a postponement was agreed at the end of last year by Silvio Berlusconi’s holding company and Sino-Europe Sports.

The meeting is a formality as Berlusconi owns 99.93 percent of the club, which he purchased 30 years ago.

The deal with the Chinese group, which includes the participation of a Chinese state investment fund, values the club at 740 million euros (around $800 million), and requires the investors to spend 350 million euros over three years on improvements.

A press conference is expected on Saturday.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide