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Chinese Takeover Of AC Milan Reportedly Hits Hurdle, Complete Collapse Possible

The purchase of AC Milan "was expected to be completed on Friday, but it has hit a hurdle that may prevent it from being concluded at all," according to Marco Bellinazzo of GOAL. The "long-awaited takeover" of the club by Chinese group Sino Europe Sports has reportedly "been plunged into fresh doubt as the buyers seek to collect the money" to complete the final installment. It "had been anticipated that the deal would go through" on Friday, but "there is a risk of further delay and perhaps even a complete collapse." Only the third and final installment of the payment "is still outstanding," but that is valued at €320M ($339M). Chinese businessman Yonghong Li was "initially supposed to head a consortium of many Chinese investors to buy the San Siro club from Fininvest, but the situation has abruptly changed." Li is now reportedly the sole investor, "and as such a postponement has been requested in order for him to complete the takeover," which is now in a "delicate position" (GOAL, 2/28).

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