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Chinese investors paid second deposit in AC Milan deal - source
December 13, 2016 / 11:43 AM / a year ago

Chinese investors paid second deposit in AC Milan deal - source

MILAN (Reuters) - The Chinese consortium seeking to buy AC Milan has paid a second 100 million euro ($106 million) deposit to the Italian soccer club’s owner, a source close to the matter said on Tuesday.

Football - Soccer - Empoli v AC Milan - Italian Serie A - Castellani Stadium, Empoli, Italy - 26/11/2016. AC Milan's Suso (C) celebrates after scoring against Empoli. REUTERS/Alberto Lingria/Files

Last week the Chinese investors and the holding company of former Italian prime minister Silvio Berlusconi, which owns AC Milan, agreed to postpone the closing of the deal to March 3, but the consortium was asked to pay the second deposit on top of another 100 million euros it had already committed.

The deal was originally expected to close on Dec. 13 but the consortium, backed by Haixia Capital and entrepreneur Yonghong Li, was struggling to get approval from the Chinese government for the deal. ($1 = 0.9429 euros)

Reporting by Elvira Pollina, writing by Agnieszka Flak, editing by Silvia Aloisi

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