Sino-Europe Sports plans to acquire AC Milan before December 13th may have to be postponed again.
It was reported that the representative of Sino-Europe Sports would meet Milan President Silvio Berlusconi on Friday, requesting the postponement of the injection of 420 million euros. If the Chinese government does not allow Sino-Europe Sports to transfer the money abroad in time, they may need to carry out Plan B, but this will not lead to bankruptcy.
On November 15th, AC Milan officially announced that they will hold the first shareholders meeting on December 2nd to complete the Rossoneri equity transfer transactions and publicized the names of new members of their Board of Directors. If necessary, they will hold a second meeting on December 13th.
Sino-Europe Sports intends to invite Silvio Berlusconi to serve as the Honorary Chairman of the club. The Italian media guessed that the Chinese investors may accept the request to reinstate Berlusconi, but they will not allow Galliani to serve as General Manager again.
According to the original plan, Sino-Europe Sports intended to complete the acquisition of Milan before November 20th. The date was put back to early December for various reasons.
Proofread by Sean O Diobhilin