The takeover of Milan has once again be delayed but now there is a confirmed date with Fininvest announcing an agreement has been struck with Sino-Europe Sports for the deal to be completed on March 3 2017. The new Chinese owner’s will also make another €100 million down payment ahead of the full buy-out. Here is a transcript of the statement from Fininvest:
 

Fininvest & Sino-Europe Sports have reached an agreement extending to 3 March 2017 the time limit within which to realise the closing on the sale of the share holding held by the same Fininvest in AC Milan.
 

The agreement was approved by the Board of Directors of Fininvest and predicts that by 12 December Sino-Europe Sports will credit to Fininvest a further deposit of 100 million euro following on from the 100 million that has already been paid to the signing of the contract of sale.  

The agreement on the extension, which was requested by SES, reiterates that the arrangements for the management of the activities of AC Milan until the date of closing will continue to be based on the principle of sharing choices.

Milan, 7 December 2016.