News of a potential takeover at Milan is finally gaining some real momentum with Milan announcing that Fininvest, the Berlusconi family holding company, had entered into exclusive negotiations with the group of Chinese investors interested in purchasing the club. This exclusivity agreement prevents either Fininvest or the Chinese from negotiating with other parties and is expected to accelerate the speed at which the two groups will be able to agree upon a deal.
It is reported that the period of exclusivity will last one month in order to avoid the long and protracted saga that surrounded Mr Bee's attempt to purchase the club last year. It is believed however that a deal could be completed within a week's time. The parameters of the deal look to be the same as previously reported with the Chinese looking to acquire a 70% stake in the club immediately upon reviewing the club's financial situation.
This news couldn't have come soon enough, with the team under performing and the fans revolting, a change is badly needed at Milan. Some reports suggest that despite this important step, Silvio Berlusconi himself still holds misgivings and so ultimately Milanisti will have to wait and see. Hopefully he will do the right thing.