The main sponsor of the Chinese group buying Milan has released his first words as the Sino-Europe group confirmed the €350m that will be spent over 3 years.
After the official communication from Fininvest arrived the confirmation from Sino-Europe Sports Investment Management Changxing Co. Ltd, who are buying the entire stake of Silvio Berlusconi at Milan, thus ending his 30-year reign with the red and black club.
“Sino-Europe Sports is pleased to announce the completion of the payment of a €85m deposit to Fininvest, confirming the commitment of the Chinese investors on the purchase of the entire stake owned by Fininvest in AC Milan, equal to 99.93%,” their statement reads.
“The transaction comes after the €15m payment submitted on occasion of the signing of the binding contract on the 5th of August. Mr. Li Yonghong, Chairman of Sino-Europe Sports [and also the main sponsor of the consortium], declares: ‘The announcement represents a milestone in the process that will bring to a new, glorious chapter in the life of this incredible club. For many generations of supporters, the Milan of Silvio Berlusconi has embodied the idea itself of victory and success. Our commitment is to bring this legendary team back into competition with the best teams in the world’.
“Under the terms of the agreement and to achieve the objective stated above, the buyers will provide AC Milan with €350m over a three-year period. The binding contract between the parties will be completed by the end of 2016.” MilanTV previously reported November 5th as the closing date.
A new era is at Milan and the money transferred today indicates the seriousness of the new owners and completely silences the voices in the media that had doubts over the Chinese investors.