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Report: Berlusconi Close To Negotiating Milan Sale

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Reports suggest that Silvio Berlusconi is close to agreeing the sale of the club with a Chinese business consortium.

Milanisti might finally get Silvio Berlusconi out of their hair
Milanisti might finally get Silvio Berlusconi out of their hair
Marco Luzzani/Getty Images

Following on from reports last week that a Chinese consortium are keen on acquiring a majority stake in Milan, it has emerged that Silvio Berlusconi may already be in advanced negotiations to sell the club to this same group. Reports suggest that the Berlusconi family holding corporation Fininvest have spent the past few days negotiating with Sal Gailtioto of the Galitioto Sports Group for the sale of the club. Galitioto is the representative of the Chinese consortium in question, headed by Robin Lee, a powerful and wealthy Chinese businessman.

Reports indicate that the Chinese group have completed their analysis of the club's financial situation and made plans that should generate Milan around 300 million euros within the space of two years through sponsorships and other similar investments. These reports also suggest that the consortium are willing to offer 720 million euros to acquire a 70% stake in the club immediately and could look to acquire the remaining 30% as well before the end of the calender year.

If true, then the two parties will most likely be close to a preliminary agreement over the sale of the club and so the only thing remaining would be the consent of Berlusconi himself. The same reports suggest that there are some doubts on his part, presumably due to the collapse of the Mr. Bee deal, but with the club's finances in a worrisome state, it might be in his best interests to sell.