Bloomberg: The Chinese group still ‘seeking money from new partners’, Sino Europe: “Milan’s acquisition will be completed at the end of this year”

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Casa Milan (@acmilan.com)
@acmilan.com

There are reports that the Chinese don’t have all the money required to buy Milan yet but Sino-Europe Sports assures that everything will happen as planned.

Paolo Berlusconi – brother of Silvio and VP of Milan – spoke about the sale of the club earlier this week, expressing total calmness: “Our tranquility derives from this: there isn’t a tycoon or a single character,” he said, “but an organization supported by the Chinese government.”

But according to Bloomberg.com, the Chinese group – which has already made a non-refundable €100m deposit to the coffers of Milan’s holding company Fininvest – has been hunting for more investors since it agreed on a deal with Silvio Berlusconi’s Fininvest SpA. The consortium didn’t have all the financing in place when it agreed last month to purchase Milan for €740 million ($830 million) including debt.”

Sino-Europe Sports sent an email to Bloomberg as a reply, reassuring that everything is okay. The group, which is led by Yonghong Li (you can read his previous statements here), confirmed that it is in the final stage of the acquisition and has been providing project information to existing financing partners and other interested parties as a part of the closing process, which will be completed at the end of this year. The acquisition of the funds will be also fully in place at the same time.”

Bloomberg writes that “the Chinese consortium is seeking money from new partners to help meet its stated goal of completing the deal by year-end.” The American website also claims that they’ve been told by 2 people that Li and his group are considering to build a new stadium for Milan.

Silvio Berlusconi at Casa Milan (@acmilan.com)
Silvio Berlusconi at Casa Milan (@acmilan.com)

Li’s people have told Bloomberg that the Sino-Europe Sports Chairman is confident about raising the funds in time. As confirmed by Fininvest in the announcement over the preliminary contract, Yonghong Li is joined by Haixia Capital Management Co., an investment firm controlled by China’s government owned State Development & Investment Corp. They also confirmed at the time that “other investors will acquire shares of Milan, some of which are State-controlled entities. Among those investors are companies active in the financial industry and others in industrial sectors.”

Bloomberg writes that in order to lure more investors “the consortium has been telling potential partners they could earn outsized returns if Milan eventually lists on a Chinese stock exchange.” The website adds that “in an earlier draft of the fundraising materials, the Chinese investor group indicated the team’s value could multiply several times in the long term to reach €2.9 billion, rivaling top clubs like Real Madrid and Manchester United, according to documents obtained by Bloomberg.

“The acquirer predicted its plan to revive the storied team would help annual revenue more than double to €500 million in five years. It plans to open up the Chinese market, the documents show.”

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Eighteen99

Trust the Chinese…. they never fail on a delivery!

Dwayne Kanas

I can’t wait to sometime in the future hear an official statement that Milan are planning to build a new stadium, this time actually going through with the idea!
We had a lot of good moments in San Siro but now it’s time to move on. Having a new stadium will boost our income as well!

Will

Fabregas in January lacazette n thiago Silva next season. Bacca Honda sold.

Clark Kent

Bacca is our best player atm and there are far worse players in the squad than Honda, examples Monty, Poli etc plus he brings in a lot of money through shirt sales and Asian interest in AC Milan. I seriously don’t get why he gets such hate for nothing. He is one of our better players imo just that he is always played in the wrong position such as wing, even in the wing he puts in good performances even tho it’s not his natural position.

Dwayne Kanas

PSG better start giving back to us, we should try and get Thiago SIlva and Verratti from them, along with maybe Ciao and we’re good for the rest of the season!

JaRossoneri

…meanwhile, somewhere in Turin…Adil Rami quietly helps Sevilla shut out Juve.

Dwayne Kanas

The match ended in a draw tho! 0-0

Conor

“helps shut out Juve” means stopped any goals

Tourist

Milan and drama . . Milan should be named FC Hollywood already . .

Milan10

Nah, bayern would sue.
Btw, what if the chinese consortiun fail to provide the money needed to close the deal?

balle

with Chinese money in Feb – we should go for Fabregas, Witsel and maybe lure over T.Silva.

Our line-up could look like this: Great balance!

———————————–Donna——————————-
Calabria———-Romagnoli——-T. Silva————DeSciglio
———-Witsel————–Fabregas———Bonnaventura—
———————————–Sosa———————————-
—————————Bacca——-Lapadula———————-

Dwayne Kanas

I wish!

BC

i like your comment, its very realistic. we can get Fabregas on loan wt option-to-buy at probably 25m, Witsel will cost us another 25m and Silva maybe 35-40m. That will be a great lineup bro, thanx for the insight.

Sheva

even with money you want bonaventura on field? What a joke!!!!

I woudlnt even let bonaventura get water for my players. He has done absoletely nothing besides running around being a JAAAACK from giacomo

Mojdanis

IF we bring Fabregas than we don’t need Witsel. He is overrated and expensive anyway. I would rather give that money for Basseli or someone younger. Also De Sciglio? have you watched Milan lately? I agree with Sheva here, if we have money we should spend it to bench Bonavetura. He is not even contributing in attack, let alone defense. But of course you would bench Suso and Kucka maybe two best players so far, this season. Just don’t like it mate, sorry.

balle

I agree – Suso is a great player, I would potentially consider him up with Bacca instead of Lapadula. But sorry, Kucko is just not Milan material in my mind. I added Desciglio because the club has decided that he is our future by constantly rejecting big offers from other clubs. Bonnaventura, was one of our best players last season, he’s had a rough start this year but we are only 3 games into the season. Witsel would be a great compliment to Fabregas in the middle.

mykel

This is great line up and very achievable with the 100mil that would be available

Will

Bacca is 30 lacazette is 25 simple logic n he’s better lolz niang n lacazette good luck selling poli n Monty that’s why I said Honda he can be sold

Rosso138

And Ibra is 34. Simple logic? No, class is class.

Forza Milan

Hmmmm, this kid is back again with his comments about Lacazette.

chris

Let the Chinese just focus on the business aspect of running the club and leave the sporting aspects to people who know what to do. I’d rather they just contribute a small amount every year to the transfer budget until Milan is very wealthy again. This would ensure we do not loose our identity by changing players so fast and wasting funds. This present squad needs a mental lift more than they need any new players. If anything it needs just an experienced defender. I’d rather see Milan scouting for new and revolutionary talents than buy already known names that… Read more »

Will

Idc about ibra. Good luck getting him. Lacazette is better than all the strikers in serie a except higuian u just can’t handle the fact that lacazette is better than bacca lolz to u even watch football

Lacazette has market value. He’s a star player. French international. He’s a bigger brand than bacca do I need to go on like seriously how can u not say he is not better lolz montella wants someone who integrates with play. Midfield and attack bacca can’t do that except stay in the box n score. We need an all round player

mykel

I guess you are just a fan of lacazette cause he wouldn’t even bench bacca in Colombia national team.. ..if bacca was french he would be their starting 9 in every game.. .come shout lacazette when he is a starter for france and he is able to bench that flop called Giroud