In August, after nearly three decades at the helm of A.C. Milan, Silvio Berlusconi announced that he had sold his 99.93 per cent stake in the club to a Chinese investment group called Sino Europe for €520m (about £450m).
According to the terms of the deal, Sino Europe made an immediate down payment of about £85m, the rest to be paid in December. This down payment was non-refundable.
In August, after nearly three decades at the helm of A.C. Milan, Silvio Berlusconi announced that he had sold his 99.93 per cent stake in the club to a Chinese investment group called Sino Europe for €520m (about £450m).
According to the terms of the deal, Sino Europe made an immediate down payment of about £85m, the rest to be paid in December. This down payment was non-refundable.
Sino Europe missed the December deadline, but transferred another £85m as a sign of goodwill. Last week it emerged that they would miss the March deadline as well. It was claimed that one of the investors had changed his mind. It appears that Milan will grant a third extension, particularly if around £85m is handed over.
Berlusconi will either get to sell Milan for a lot of money or he will keep the club and be around £170m better off.