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Milan sale to go through!, Chinese consortium to acquire for 700 MM Euros |
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Aug 6 2016, 08:23 PM
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Prima Squadra
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QUOTE (X-Offender @ Aug 6 2016, 05:54 PM) Who cares, just give us money. I think it's important to know the financial strength of the new owners. If the ones mentioned in my above post are true, then we're in business.
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Aug 6 2016, 08:53 PM
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Primavera
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Nevermind the last few years. But anyone feeling a tad sentimental about Berlusconi leaving after 30 years?
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Aug 6 2016, 10:14 PM
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QUOTE (Fillipo Simone @ Aug 6 2016, 08:53 PM) Nevermind the last few years. But anyone feeling a tad sentimental about Berlusconi leaving after 30 years? Not really to be honest. Things have just deteriorated to the point where all I feel is relief that this thing is finally done
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Aug 7 2016, 11:47 AM
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Giovanissimi Regionali B
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QUOTE (Fillipo Simone @ Aug 6 2016, 09:53 PM) Nevermind the last few years. But anyone feeling a tad sentimental about Berlusconi leaving after 30 years? It is the end of an era, and (despite the last few years) I think we should be extremely grateful for all Berlu has done for the club. Having said this, a change of ownership as well as a change of management have become a necessity. So yes, there is a touch of sadness, but overall I am happy (and a little concerned at the same time, "change" does not necessarily mean "improvement").
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Aug 8 2016, 03:42 PM
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QUOTE (Rossoneri7 @ Aug 7 2016, 06:38 PM) I think, just like we reflect on the Carlo days today, we will reflect on Silvio's Era tomorrow. When we figure out that it wasn't all of Galliani doing after all but just how life is not always perfect like that (IMG: style_emoticons/default/wink.gif) But yes I feel a lot of sentimental attachment to Silvio's ownership of Milan. To an extent that he is the sole person after God responsible for Milans run over the last 30 years. And today, it is being transfered to China, whom Silvio has accepted a lower valuation of the club to just receive eur 520m and the rest 570m to milan (pay debt qnd transfers). That is a show of affection from the President to his club. Truly is. Forever grateful. I think we can agree on being grateful to Berlu (IMG: style_emoticons/default/smile.gif) As for the rest, reality is that Milan has been managed very badly (certainly in recent years, possibly going even further in the past). That has resulted in a number of very poor decisions that have contributed to our current state. Do compare our sorry state to what Juve (which is managed as a proper business) can achieve on the market these days, and to take into account that until recently revenues for the two clubs were not that far apart. Also, do refer back to the recent stockholder meeting, and all of the issues that were brought up back then. The overall picture is very, very far from perfect. So it may not be "all of Galliani doing", but as the "man in charge" he shoulders much of the blame. On a separate note, Inter is not doing all that well either. Yes, they have more money, but they have not spent it very wisely and Mancini leaving a few weeks before the start of the season is not encouraging.
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Sep 23 2016, 04:26 PM
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QUOTE (Forza Milan! @ Sep 23 2016, 03:57 PM) Some scary news about our new investors, with allegations of false documents being used to get Berlu to agree to the deal (some of these allegations have apparently been confirmed by one of the Chinese banks). It sounds like the new investors are not as "solid" as they represented themselves, and may have to rely on help from Chinese banks, at least for a transition period. If so, the club will be effectively run by banks, which is probably not good news in terms of what we might be able to spend for players. I read yesterday that Sino Europe denied the false documents allegations by Bloomberg and was threatening to sue. Fininvest have also denied these claims Is this related or are these new allegations? I personally find it hard to believe that with all that time taken even before the preliminary was agreed to carry out due diligence, with all the financial advisors Finivest had on this deal, that this would be coming out now
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Sep 23 2016, 07:38 PM
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QUOTE Sino-Europe threaten legal action
The Sino-Europe Sports group are threatening legal action after reports emerged that they had provided Milan with a false bank guarantee.
The Chinese consortium reached a deal to buy the Rossoneri from President Silvio Berlusconi’s holding company, Fininvest, last month. They have since paid a deposit of €100m and are due to conclude their takeover before the end of the year.
However, reports in Chinese media on Friday claimed that Sino-Europe had used false bank guarantees during the negotiations with Berlusconi, actions the group categorically denied in a statement.
“With regard to the incessant speculation from the media – including today’s, spread by Chinese daily Caixin, which claims that during negotiations Fininvest received false financial guarantees and false supporting documents – Sino-Europe Sports strongly declares that all of the speculation is unfounded and that it is considering beginning legal action,” the statement reads.
“As Fininvest has already stated several times, Sino-Europe Sports has duly and punctually complied with the financial obligations to Fininvest, in accordance with the agreement signed on 5th August.
“The parties are working attentively to finalise the closing of the deal, as was outlined in the said agreement.” Either way, it would be crazy for anyone, let along a consortium made up of a number of different investors, to sink 100m into something that isn't air tight.
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Sep 23 2016, 09:06 PM
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QUOTE (han2503 @ Sep 23 2016, 08:38 PM) Either way, it would be crazy for anyone, let along a consortium made up of a number of different investors, to sink 100m into something that isn't air tight. Agreed, they will find an answer (I hope). However, it looks like Chinese sources are now confirming the allegations. ( Link.) Edit: Also, it's the consortium that is not "air tight", not Milan. The article in my previous posts says the situation is not dissimilar from Thohir buying Inter (apparently he needed banks to "bridge him" until he could find buyers with "deeper pockets").
This post has been edited by Forza Milan!: Sep 23 2016, 09:10 PM
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Sep 23 2016, 09:07 PM
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QUOTE (Forza Milan! @ Sep 23 2016, 09:06 PM) Agreed, they will find an answer. However, it looks like Chinese sources are now confirming the allegations. ( Link.) And the statement I posted above are in reply to those allegations. Sino Europe are threatening to take legal action. And Fininvest have once again outlined the processes taken during the contract agreements
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