A proposed takeover of Italian giants AC Milan is reportedly on the brink of falling through after the interested consortium failed to complete the acquisition ahead of the initial deadline.
The Rossoneri had hoped to see a deal go through on Monday, but Calciomercato claims that Chinese group Sino-Europe has asked for a further 24 hours to pay the additional deposit of around £84m.
It is claimed that the closing date has been postponed until March 3 and the sale of a majority stake in the Serie A club is now on the brink of collapse as a result.
A similar deposit had already been paid by Sino-Europe but it is reported that an additional sum of £84m is required as a fine for the delayed closing date, with the consortium now hoping to get the payment across at some stage on Tuesday.
Silvio Berlusconi, who has been at the San Siro helm for the past 30 years, is looking to offload ownership of Milan but has already seen two previous deals fall flat.
Daniel Lewis
