Talks between AC Milan President Silvio Berlusconi and a group of Chinese investors over the sale of a majority stake in the club "have been extended to at least the end of June" because of the former Italian PM's planned heart surgery, a source close to the matter said, according to Giulia Segreti of REUTERS. The Berlusconi family's Fininvest holding company, which owns AC Milan, started "exclusive talks with the Chinese consortium at the beginning of May to try to inject new capital" into a club which has failed to win a major competition in the past five years. Talks were, however, expected to continue on Monday in Milan "when Fininvest meets representatives from the Chinese consortium, the source added." Berlusconi is due to undergo surgery on Tuesday to "replace a defective aortic valve after he was admitted to hospital last week" (REUTERS, 6/13).
MEDIATOR ARRIVES: FOOTBALL ITALIA reported Sal Galatioto, who is mediating the sale of Milan to a Chinese conglomerate, landed in Italy on Monday. The head of American agency Galatioto Sports Partners is "hoping to ease the transition" of 70% of the Rossoneri's stocks "into the hands of the investors from the Far East." Galatioto will then depart on Friday and head over to London, "where he will report to a group of banks that are at the head the Chinese buyers" (FOOTBALL ITALIA, 6/13).
