AC Milan date set for takeover completion with €100m transfer war chest ready
After months of negotiations and speculation, it is claimed that AC Milan are set to announce the Chinese takeover of the club on July 7.
A preliminary agreement is said to have been reached between the two parties to make an announcement on the first day of pre-season training, with President Silvio Berlusconi receiving the assurances that he needed to be convinced that selling a majority stake to the consortium is the right thing to do.
Talks had been put on hold after the former Italian PM had to undergo heart surgery earlier this month, but after making a recovery, they continued and eventually made significant progress.
According to La Gazzetta dello Sport, that isn’t the only boost for Milan supporters, with reports that €100m will be ready to spend as soon as the takeover is completed.
That in turn will give the Rossoneri the opportunity to significantly strengthen their squad ahead of next season, as they look to put the disappointment of their performances in recent years behind them.
However, while the takeover will be the first part of that process, they have yet to appoint a long-term coach with Cristian Brocchi set to see his contract expire at the end of this month.
Berlusconi has insisted that he wishes for the 40-year-old to remain in his position after starting the job at the end of last season, although it remains to be seen whether or not the new ownership agree with the choice or if they prefer to bring in their own manager to start the new era.
Regardless, the takeover in itself will be seen as the first step in the right direction by many Milan supporters, and they will hope that it results in investment in the squad and success on the pitch.
AC Milan ready €100 million war chest
The Chinese have promised Rossoneri president Silvio Berlusconi that they are prepared to spend significantly in the summer
Gianluca Lapadula’s signing was only the first of what is expected to be a very lucrative transfer window for AC Milan.
Despite the Chinese consortium’s takeover of the club stalling, a preliminary deal is still expected to finalised by July 7 with the final official closure happening some time in September.
In regards to Silvio Berlusconi’s health problems, it is not expected to impact much on the negotiations, as he has instructed his company Fininvest to negotiate on his behalf.
As per the agreement, it is expected that the Chinese consortium will invest €400 million into the club by 2020 and have reassured Berlusconi that they are happy to spend big in order to strengthen the team.
It is no surprise that the takeover will bring a huge boost to the club’s financial coffers, with the incoming Rossoneri coach expected to have around €100m to spend on new players this summer.
A more concrete move will even be made for Zlatan Ibrahimovic. Milan have not given up hope of stealing the Swede from the clutches of Manchester United, but their entire move depends on the backing of the Chinese.
While Cristian Brocchi is Berlusconi’s favourite to remain at the helm, a decision still needs to be formally made on a coaching appointment for next season with the Chinese allegedly preferring a foreign option like Frank de Boer.