China Milan buyout could hit new delay
Print Edition
THE sale of AC Milan to a Chinese consortium, scheduled to be finalized tomorrow, could be delayed until the end of the month, a source said yesterday.
Milan’s media tycoon owner Silvio Berlusconi agreed in August 2016 to sell the club to Sino-Europe Sports in a deal that values the Serie A giant at 740 million euros (US$825.4 million). But the takeover has been postponed on several occasions as the financial details are ironed out.
“The Chinese consortium has asked to postpone the signing by a month,” the source said.
“That should be possible with the payment of a new instalment of 100 million euros.”
Italian media have reported that the Chinese consortium, which has already paid out 200 million euros, was encountering difficulties after the withdrawal of one of its investors.
La Repubblica newspaper confirmed that one of the Chinese investors due to have paid out 80-100 million euros had withdrawn because it failed to obtain permission to move funds out of China.
Milan’s neighbor Inter Milan is already under Chinese ownership.
On the field on Tuesday, Napoli was left fuming after Juventus was awarded two penalties early in the second half on its way to a 3-1 win in the first leg of their Italian Cup semifinal.
To add insult to injury, Napoli had its own penalty appeal turned down immediately before Juventus was awarded its second.
Paulo Dybala converted both spot kicks for Juventus and his fellow Argentine Gonzalo Higuain scored in between after Jose Callejon had given the visitors a halftime lead.
It was Higuain’s second goal in as many meetings against Napoli since he left the southern club to join Juventus in July after scoring a record 36 Serie A goals last season.
Higuain had two years to run on his contract with Napoli, which did not want to sell him, but moved after the Turin club agreed to pay a 90-million euro buyout clause in his contract.
“This evening, we suffered a defeat because of decisions which were not debatable, but were shameful and harmed the whole of Italian football,” said Napoli director Cristiano Giuntoli.
Juventus coach Massimiliano Allegri, however, said that the two penalties awarded to his team appeared to be correct. “In any case, we can’t reduce our performance to just the two penalty episodes,” he said.
The return leg will be played on April 4. The winner will meet either Lazio or AS Roma.
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