According to a statement from Reuters Italia, the deal to sell 80% of AC Milan is close to conclusion.
The statement on their website reads:
“The preliminary agreement that Fininvest and the consortium of Chinese investors are preparing to sign – and that will start the handover of Milan – provides a guarantee clause with a penalty of 100million Euros by the party that withdraws unilaterally before closing.
“The signing of the preliminary is expected in the first days of next week, but no later than July 15.
“The agreement provides that Fininvest, the holding company of the Berlusconi family, give to the group of Asian investors – represented by the advisor Sal Galatioto – 80% of the shares of AC Milan. The club is generally estimated 700 million to 750 million, including debts.
“Last year Fininvest signed a preliminary agreement for the sale of 48% on the club to a consortium of Asian investors led by Thai broker Bee Taechaubol. The agreement did not include any penalty. The closing never materialized.”