The exec director of the Chinese consortium negotiating the takeover of AC Milan said that the deal "is still progressing according to plan," according to Ben Gladwell of ESPN.com. Speculation in Italy has suggested the Sino-Europe Sports group is "struggling to find the backing needed to complete the purchase of the club from Silvio Berlusconi's Fininvest by an end-of-year deadline." But Sino-Europe Sports Exec Dir Han Li said, "All the investors are confirmed and everything is perfectly on the right track." He also said that the consortium "did not see the purchase of Milan as being merely a business venture." Li: "Milan are one of the biggest clubs in the world, with a history filled with success and glory." He added that the consortium's negotiations were "based on the passion and love we have for the club, which is why we've named the driving company set up for the takeover Rossoneri." The consortium has already paid €100M ($112M) to Fininvest as a deposit, with a further €320M ($358.5M) "due at completion of the deal by Dec. 31" (ESPN.com, 10/4).
INCONSISTENCIES: FOOTBALL ITALIA reported there is "more confusion" over Milan's ownership, as a newspaper investigation uncovered "inconsistencies with Sino-Europe Sports." The Chinese consortium has been "accused of using false documentation during the transaction, something vehemently denied by those involved." Now Gazzetta dello Sport has sent journalists to China to "try and uncover the truth about the prospective buyers of the Rossoneri." The Suning Group took over Inter, but He Wenyi of Peking University notes “the structure of the group which wants to buy Milan is not typical in China. Suning knew it all, they already had a team [Jiangsu Suning] and took over Inter to create synergy and value in China.” There has been "speculation that the Chinese government may be involved, but the state is not usually involved in buying European clubs" (FOOTBALL ITALIA, 10/4).
