Silvio Berlusconi

AC Milan sale delayed again

Leave a comment

MILAN (AP) The sale of AC Milan to a group of Chinese investors was again delayed on Friday.

[ MORE: Ronaldo set to miss Eibar clash with muscle injury ]

The completion of the deal was originally scheduled for December, but Silvio Berlusconi’s holding company Fininvest and Sino-Europe Sports agreed to a three-month delay, postponing the closing to Friday.

[ MORE: Genoa defender Izzo could face six-year ban for match-fixing ]

“Conditions of the contract have not been met so the closing cannot happen today as initially planned,” Milan vice president Adriano Galliani said at a shareholders’ meeting.

“Fininvest points out, however, that it is evaluating the possibility of drawing up an agreement to give up its ownership of AC Milan soon.”

The new date is expected to be March 31.

The deal with Sino-Europe values Milan at 740 million euros (about $800 million). The investors have already paid 200 million euros as a deposit.

Berlusconi, who purchased Milan 31 years ago, has been negotiating for more than a year to sell the Serie A club.

Giuseppe Scala, representing those with smaller stakes in the club, accused Fininvest of not being transparent and demanded more clarity from the club.

Galliani responded by saying he worked for Milan, not Fininvest.

“Why should I feel like I’m being taken for a fool?” Galliani asked. “There’s nothing that doesn’t work, corporate life continues as normal and calm, salaries are paid.

“The deal between potential vendors and potential buyers is between Fininvest and SES. They can give answers, not the managing director of Milan. With all the goodwill, I can’t respond to questions on where we are, what will happen, what will be AC Milan’s future, because I don’t know. If Milan will or will not be sold does not depend on me.”

Berlusconi signs deal to sell full AC Milan stake

Ti-Press/Gabriele Putzu/Keystone via AP
1 Comment

MILAN (AP) Silvio Berlusconi has signed a deal to sell his full majority stake in Italian club AC Milan to Chinese investors.

[ MORE: Verratti signs new PSG deal, still has much to prove ]

Berlusconi’s Fininvest investment arm said Friday that the deal with a Chinese investment group values the club at 740 million euros (around $820 million) and requires the investors to spend 350 million euros over three years on improvements.

Berlusconi owns 99.93 percent of the club, which has been European champion seven times.

Fininvest said Berlusconi’s goal in negotiating the sale was `’to provide AC Milan, through an appropriate ownership structure, with greater financial resources now more essential for competing with the top football clubs of the world.”

Historically one of the Serie A’s most successful teams, AC Milan finished last season in seventh place.

The Chinese investors operate through the management company Sino-Europe Sports Investment Management Changxing Co. Ltd.

Mario Balotelli racially abused again, this time by AC Milan owner

Ti-Press/Gabriele Putzu/Keystone via AP
Leave a comment

Mario Balotelli has been the target of racist comments and actions on a number of occasions throughout his career, so it probably comes as no surprise to hear that it’s happened yet again, which is truly sad.

[ MORE: Copa America draw — There is no group of death ]

However, you might be surprised to hear that this time the abuser is the owner of AC Milan, the club for which Balotelli currently plays while on loan from Liverpool, but that would only mean you’ve never heard the name Silvio Berlusconi. For that, you would be very lucky.

Berlusconi, a lifelong politician and owner of AC Milan since 1986, is no stranger to being a racist and proudly sharing his despicable opinions publicly.

Earlier this season, Berlusconi inserted clauses into Balotelli’s contract that prevent the 25-year-old — a fully-grown adult man — from having “extravagant haircuts,” wearing “outrageous clothes” and visiting nightclubs. This was also interpreted by some as racist, considering Balotelli is the only player at the club to have such restrictions placed upon him.

Don’t count on the Italian football authorities to come down too hard on Berlusconi, as they’ve rarely, if ever, done so throughout his 30-year reign of racism.

Report: Berlusconi agrees sale of AC Milan to group of Chinese investors for $1 billion

Leave a comment

AC Milan owner Silvio Berlusconi has reportedly agreed a deal to sell 75 percent of his ownership stake in the 18-time Serie A-winning club to a group of Chinese investors, rumored to be heavily involved with the Chinese government, according to a report by AskaNews.

[ RELATED: AC Milan + Hello Kitty = what? ]

The sale will net Berlusconi, who reportedly said it was a “done deal” during a private event on Tuesday night, more than $1 billion.

Berlusconi’s majority share of the club has reportedly been on the market for quite some time now, though the 78-year-old and business partners have repeatedly refuted these reports.

The prospective ownership group’s link to the Chinese government is a slippery one, at best, as “AskaNews believes that the Chinese government is playing a large role in the operation, in order to promote football in the country, with the long-term aim of making the national team a major world power.”

[ PHOTOS: AC Milan unveil plans for stunning, new 48,000-seat stadium ]

Milan, which currently sits in eighth place in Serie A, 14 points off the third and final UEFA Champions League place, hasn’t seen serious financial investment in the shape of new players for almost five years now, with the above conjecture signaling that may not be set to change anytime soon.

This particular sale would mean that both Milan clubs are to be under Asian ownership after Indonesian tycoon Erick Thohir bought a 70 percent stake in Inter Milan in November 2013.

AC Milan CEO gives the latest on Balotelli bids, Robinho’s move to MLS

7 Comments

It’s been quite a summer for Italian striker Mario Balotelli. Perhaps you could say that about every season of the controversial soon-to-be 24-year-old’s life, but we’ll worry about that some other time.

Just a few days after Balotelli posed for a photo next to an Arsenal logo — and days after AC Milan president Silvio Berlusconi ripped the forward for his World Cup — there were stories that his move to London was forthcoming.

But AC Milan CEO Adriano Galliani said i Rossoneri has not received a bid for Balotelli, before shifting gears to the rumored move of Robinho to Orlando City.

From Sky Sports:

Reports on Sunday suggested Arsenal had agreed a £15.8million fee with Milan for the 23-year-old but Galliani stated there had been no bid.

“We have not received any offer (for Balotelli) and at this time, there is nothing from Arsenal,” said the Milan chief.

Galliani also said that Milan and Orlando City are some way off in their negotiations over another former Manchester City forward, Robinho.

“We are trying to arrange with him (Robinho) a similar path to Kaka, but we are still distant with Orlando City,” added Galliani. “Tomorrow morning (Monday), we will talk with him and his lawyer to find a solution.”

Earlier this summer, Berlusconi said Balotelli was “going nowhere“, so the president’s speaking of his sale price was a nod to a move. And Balotelli’s gun-aiming photo for his “haters” may not exactly inspire confidence in his mental state.

As for Robinho, it would be interesting to know what fee AC Milan requests for the attacker in comparison to what Orlando City is ready to offer the Italian club.

The former Brazilian superstar-in-waiting has seen his production drop precipitously even from his disappointing time at Manchester City. With 7 goals over his last 59 games, it’s a bit of a wonder Orlando is interested at all.