The takeover of AC Milan by Sino-Europe Sports could reportedly be postponed for another 30 days after further problems arose this week ahead of closing.
It had been expected that the deal would be completed on March 3, but according to La Gazzetta dello Sport, that deadline will now not be met.
That’s due to backers in the consortium pulling out, and therefore leaving SES unable to pay the remaining balance of €320m after having previously paid out €200m in two instalments to delay completion twice last year.
It’s claimed in the report that SES attempted to offer a reduced takeover fee to Fininvest with the remainder of the money to be paid once the takeover had been completed, but current owner Silvio Berlusconi has rejected that proposal.
In turn, the remaining members of the consortium are now scrambling to raise the necessary funds, and it casts further doubts over what has been a very questionable agreement for several months.
Following the two postponements and the question marks being raised over the identities of those involved in the consortium, fears and concern had been raised by supporters and former players and officials over whether or not this was as legitimate as it seemed.
These latest setbacks will only further fuel those claims, and leaves Milan in real confusion as they will come under growing pressure in the coming months to keep their top players and bring in new faces.
While it isn’t yet suggested that the entire deal will collapse, a new deadline of March 31 has been touted by Gazzetta with another €100m instalment to be paid.
However, such is the level of uncertainty and mystery about this situation now, anxiousness is arguably becoming the overriding feeling rather than excitement over the takeover of the club as it doesn’t set a good precedence for the new owners.
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