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Sino-Europe Sports Put Another 100m Towards AC Milan Purchase

The group of Chinese investors who are reportedly buying AC Milan, seem to be buying the club on a layaway plan after coming up with another €100 million towards the purchase of the Serie A club.

The seven time European champions were Milan supposed to be sold to Chinese group Sino-Europe Sports Investment Management Changxing Co. Ltd on Tuesday but last week Silvio Berlusconi’s holding company and Sino-Europe Sports agreed to a three-month delay, postponing the closing until March 3.

In agreeing to the delay, Berlusconi requested that Sino-Europe pay Berlusconi’s Fininvest another €100 million, which they did.

The key part here is that Sino-Europe Sports has paid €200 million to Berlusconi’s holding company Fininvest. None of that money has made its way into AC Milan. Which is why so many Milan fans are upset with Berlusconi and Sino-Europe Sports because with another transfer window around the corner, it appears that Milan will have little or no money to invest in new players.

Minority shareholder Giuseppe La Scala of the APA (AC Milan’s Association for Minority Shareholders)told Milannews.it on Tuesday:

“[We received] no answers which the club declined to give and Fininvest declined to give. I don’t know how anyone can support once again [the idea] that this closing doesn’t interest Milan, its members or fans, because it’s a matter of Fininvest.

“I’ve always maintained that the Berlusconi era has had its day. It’s been too many years that we drag this story. I’m happy that Berlusconi and Fininvest have finally decided to walk away. But we need assurances that they’ve done so with parties who can bring Milan back to the top.

“When you think there’s someone who’ll apparently put €1bn into Milan, then you have to say they’re thinking big. Unfortunately, in recent months – not least because of the strange communication policy from the Chinese – do you get the feeling that they’re thinking big? I’m sorry, but I don’t.

“I blame a lack of communication from Fininvest, but also the Chinese. Don’t tell me they have a different style, everyone has to adapt to the methods and atmosphere of the place where they’re operating. If the Chinese want to communicate in this way, I’d be disappointed and concerned.

“The positive in my eyes is [future CEO Marco] Fassone, he’s a smart man and I hope he brings a smarter and comprehensive communication between the Chinese and Italy and Milano.”