AC Milan takeover on the verge of collapsing, Sky sources understand
By Sky Sports News HQ
Last Updated: 23/03/17 12:31pm
The takeover of AC Milan is on the verge of collapsing unless the Chinese investors trying to buy the club come up with another 80m euros by this weekend, Sky sources understand.
The long-drawn out deal, which values the Serie A club at £630m, was supposed to be completed three weeks ago on March 3.
When that deadline was missed, the group of investors known as Sino Europe Sports were given until this weekend to come up with €100m.
As of Wednesday, the group has been able to raise only another €20m.
AC Milan are owned by former Italian prime minister Silvio Berlusconi. They have won seven European Cups and 18 Italian titles, but they have failed to qualify for the Champions League for three seasons in a row and have not won the Italian title for six years.