AC Milan date set for takeover completion with €100m transfer war chest ready

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After months of negotiations and speculation, it is claimed that AC Milan are set to announce the Chinese takeover of the club on July 7.

A preliminary agreement is said to have been reached between the two parties to make an announcement on the first day of pre-season training, with President Silvio Berlusconi receiving the assurances that he needed to be convinced that selling a majority stake to the consortium is the right thing to do.

Talks had been put on hold after the former Italian PM had to undergo heart surgery earlier this month, but after making a recovery, they continued and eventually made significant progress.

According to La Gazzetta dello Sport, that isn’t the only boost for Milan supporters, with reports that €100m will be ready to spend as soon as the takeover is completed.

That in turn will give the Rossoneri the opportunity to significantly strengthen their squad ahead of next season, as they look to put the disappointment of their performances in recent years behind them.

However, while the takeover will be the first part of that process, they have yet to appoint a long-term coach with Cristian Brocchi set to see his contract expire at the end of this month.

Berlusconi has insisted that he wishes for the 40-year-old to remain in his position after starting the job at the end of last season, although it remains to be seen whether or not the new ownership agree with the choice or if they prefer to bring in their own manager to start the new era.

Regardless, the takeover in itself will be seen as the first step in the right direction by many Milan supporters, and they will hope that it results in investment in the squad and success on the pitch.