Chinese group Fosun International, led by Guo Guangchang, is said to be interested in acquiring AC Milan. Fosun has just completed a £45 million takeover of the English Championship side Wolverhampton Wanderers.

As reported by La Gazzetta, AC Milan is valued at €700 million. Fosun, with an estimated revenue of €11.1 billion annually, also owns real estate in Milan. The group would be able to cover the takeover with its profits from 2015 alone, and still have €400m to spare.

La Repubblica reported that Fosun is set to complete the takeover before August 15th. That means there would be a fortnight for investment in new recruits before the transfer window closes, with Gianluca Lapadula still the only new face to have arrived this summer.

Guo’s firm has teamed up with Gestifute, the Portuguese football agency founded by Jorge Mendes, agent of Jose Mourinho and Cristiano Ronaldo.

Reports also said that, at the moment, there is not even a negotiation between Fininvest and Fosun.

Source: wolves.vitalfootball.co.uk

Proofread by Sean O Diobhilin