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Chinese Group Wants To Seal Takeover Of Milan By June

The Chinese group that seeks a majority stake in Milan wants the deal done by June - in time for a spending spree during the summer transfer window.

Marco Luzzani/Getty Images

Yesterday it was revealed that a Chinese consortium had begun negotiations to purchase a majority stake in AC Milan, ending the era of Silvio Berlusconi as steward of the club. Reports now suggest that the takeover may be complete as soon as June.

Little is known because the talks remain confidential, but a source close to the matter has stated that the Chinese group have apparently agreed on the majority of crucial terms and seek to ink a deal before this year's summer transfer window opens. Berlusconi and his buyers have already discussed plans to strengthen Milan's sub-par squad, and the group's initial investment would serve to make the team more competitive rather than pay down debt.

Berlusconi has been peddling his once-storied squad since 2014, but talks have stalled repeatedly while the club has continued to languish. Since then, Milan's revenue has continued to fall, despite austerity measures that have required the departure of its most talented players and its roster decimated. Milan is slated reveal its annual results later this month. Figures for 2014 showed a net loss of 91.3 million euros, according to its website - the highest in the club’s history.

It may seem that the sale - and the corresponding influx of cash - could be the solution to the many ills that plague the beleagured club. However, further problems loom on the horizon. Should the team eke into the Europe League, its books will face additional scrutiny. Under FIFA's financial fair play rules, clubs with losses that breach certain thresholds face sanctions. Still, even an inkling of good news is more than Milanisti have had in a while.