Football
Ben Gladwell, Italy correspondent 7y

AC Milan takeover will go through on March 3 - vice-president Berlusconi

AC Milan vice-president Paolo Berlusconi says the sale of the club to Chinese investors will go through by March 3, rejecting claims there are problems with the deal.

The Sino-Europe Group, leading a consortium of investors preparing to acquire Silvio Berlusconi's majority share in Milan, was due to finalise a takeover last year, but the completion of the deal has twice been delayed.

March 3 is the new deadline for the final funds to be transferred and Paolo Berlusconi -- Silvio's brother -- says there is no problem at all in the procedure which will see the club change hands after 30 years in his family's ownership.

"The completion date is March 3 and they have already paid us €200 million, and the Chinese look very relaxed about it all to me," he told Sky Sport 24. "There are no black clouds on the horizon.

"I don't think there is anybody who, after spending €200m, suddenly turns round and says 'sorry, we made a mistake.' Maybe somebody is hoping that will happen, considering that Milan could now have become even more interesting to investors with the new youngsters coming through, but I've never seen anybody give you €200m and then pull out."

Paolo Berlusconi added that his brother is reluctant to sell Milan, but acknowledges that the time has come to let the club develop without him.

"Of course we're sorry because Milan are not just a business, but also something we are affectionate about, but you've got to pass things on when times change," he said. "Dollars from oil magnates have started to arrive [in football] and there is competition which has made it an extremely expensive business."

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