Second Chinese deposit to arrive tomorrow as the club sale nears

By Nikita Fesyukov -

According to Italian economic website Il Sole 24 Ore, the second €100m deposit from Sino-Europe Sports is set to arrive tomorrow morning. The closing of the deal is expected to happen by March 3, with another €320 million incoming to complete the deal.

Sino-Europe Sports are therefore going to pay another deposit after an initial payment of €85m in September this year as a guarantee of capital availability.

According to sources close to the negotiations, the deposit will be paid by Yonghong Li, president of Sino-Europe Sports. Meanwhile, the other investors in the consortium are awaiting authorizations from the Chinese government.

List of investors unofficially revealed

The investors of the consortium are mostly financial organizations and banks, based on information from people familiar with the authorization processes in Beijing. The list contains: Yonghong Li, Haixa Capital, Huarong Internatonal, Industrial Bank, Bank of Guangzhou and China Zheshang Bank.

The last two mentioned banks are controlled by Chinese municipalities and provinces, in particular the the provinces of Zheshang and Guangzhou. The Chinese government is indirectly involved in these companies and thus also in the club sale.

Han Li (representative of Sino-Europe Sports) with Silvio Berlusconi in August this year.

Han Li (representative of Sino-Europe Sports) with Silvio Berlusconi in August this year.

It remains to be understood how concrete the involvement of these companies will be and in what way they will provide their investments. Moreover, it must be taken into consideration, that not long ago the Chinese government introduced limitations regarding foreign investment in sectors that are not core businesses.

Il Sole 24 Ore, however, points out that if the names of the investors are confirmed and if the promised deposit arrives tomorrow, it would be a seeming guarantee of the financial power of the consortium with an aim to relaunch the club. Though it is hard to say as of now, after numerous twists and surprises concerning the deal in the past months.

Tags AC Milan Berlusconi Italy Milan News Rossoneri Serie A
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