It’s official: The closing for the contract of the Milan sale between Sine-Europe Sports and Fininvest is postponed, and will now happen by March 3rd. The basis of this stems from bureaucratic issues. The closing was expected for the 13th of December. On the 12th of December the second sum of 100 million Euros will be paid as already planned in the preliminary agreements. In the meantime, Adriano Galliani will continue dealing with the Sporting side of things at the club, and Barbara Berlusconi remains in charge of the commercial aspects for Milan. Here is the official statement made after the meeting:
“Milan, 7th of December 2016 – Fininvest and Sino-Europe Sports have renewed their agreement to the 3rd of March 2017, date in which the closing related to the sale of AC Milan will happen by.
The agreement, approved by the administrative council at Fininvest, states that by the 12th of December, Sino-Europe Sports will pay a second sum of 100 million Euro after the initial payment of 100 million Euro already completed during the initial contract agreement.
The decision on the renewal, initially asked by SES, stresses that the management of the operations for AC Milan until the date of the closing, will continue to base itself on the principle of shared decision making”.
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