Milan closing postponed to April?

By Football Italia staff

The Milan closing could be postponed by another 30 days with a new €100m payment, as Sino-Europe Sports don’t have the €320m.

The closing had been all set for Friday March 3 and until this afternoon it had seemed to finally be on track.

Milan TV confirmed “there are some meetings on-going between Fininvest and Sino-Europe Sports, as some small problems have emerged that should be clarified, one way or the other, by tonight or tomorrow morning.”

Now Sky Sport Italia and Mediaset Premium, among others, are suggesting the closing could be postponed by another 30 days with the payment of €100m.

The problem seems to be that the other investors have pulled out, so Yonghong Li remains the sole backer of Sino-Europe Sports (the holding company that is buying Milan).

Those watching the situation since the beginning have become increasingly frustrated and irritated at the latest developments, as Pasquale Campopiano dubbed it “embarrassing.”

There are even reports in respected financial paper Il Sole 24 Ore that Milan directors have been unable to make contact with the Chinese chiefs all day, despite repeated phone calls.

The takeover has taken far longer than anyone expected and the March 3 deadline was already the result of several postponements.

Now there are genuine concerns as to whether the takeover will go ahead at all, as Yonghong Li alone isn’t considered enough to back the club on the transfer market.

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