In this week's China sports industry round-up: Xi Jinping’s term extension supports football reforms; Wanda leaves Atlético, looks inward; and Tmall sponsors Renault F1 team
CHINA DIGEST | NHL makes its play; Bayern opens Shenzhen facility; first live broadcast for WrestleMania
Italian Serie A football club AC Milan will head to the Court of Arbitration for Sport (CAS) after Uefa imposed the stiffest sanction so far on a team from one of Europe’s top five leagues for a breach of its financial fair play regulations.
The Ricketts family, owners of Major League Baseball (MLB) franchise the Chicago Cubs, have announced they are in talks to acquire Italian Serie A football club AC Milan, but they will reportedly face competition from another US party.
A consortium of Chinese investors has signed a preliminary agreement to acquire AC Milan, according to Fininvest, the holding company that owns the Italian Serie A football club.
Chinese businessman Sonny Wu is leading a proposed takeover of Italian Serie A football club AC Milan, according to Bloomberg.
AC Milan president Silvio Berlusconi has said that the Italian Serie A football club is close to finalising a takeover deal with a Chinese group, headed up by internet entrepreneur Robin Li, stating that an agreement has been reached in principle.
A group of Chinese investors has reportedly agreed a deal to acquire an initial 70 per cent stake in AC Milan, as the Italian Serie A football club’s president, Silvio Berlusconi, today (Friday) admitted he is ready to sell the team.