AC Milan sold to Chinese consortium: HumSub.TV
AC Milan sold to Chinese consortium: HumSub.TV: The group, led by Chinese businessman Yonghong Li, has been attempting to buy Milan for some time but the deal has hit a series of delays and the sale has been postponed twice.
“I thank Berlusconi and Fininvest for their trust and the fans for their patience, from today we will build the future,” Li said.
Berlusconi’s holding company, Fininvest, released a statement announcing that it had completed the transfer of its 99.93pc stake in Milan to Rossoneri Sport Luxembourg which was formerly known as Sino-Europe Sports.
“Today’s finalisation gives full effect to the takeover agreement,” Fininvest said in the statement.
The deal, which values Milan at about $800 million, requires the investors to spend $372 million over three years on improvements.
“The buyers have confirmed their commitment to fulfill important recapitalisation investments to the balance sheet and strengthen AC Milan’s finances and assets,” Fininvest said.
A general shareholders’ meeting has been called for Friday when the names of the new president and directors will be announced. There is also expected to be a news conference on Friday.
The new owners’ first match will be Saturday’s derby against Inter Milan, which is also owned by a Chinese company.
The Rossoneri won eight league titles, one Italian Cup and seven Super Cups as well as five Champions League trophies and five UEFA Super Cups.
But the famous Italian club has slipped from the top in recent years and is currently sixth in Serie A.
Milan won the Italian Super Cup in December, beating Juventus for its first trophy in six years.
“I’m leaving today, after more than 30 years, the title and job of Milan president,” Berlusconi said in a long statement on Milan’s website.
“I do it with pain and emotion, but with the knowledge that in modern soccer, in order to compete at the top European and world levels, you need investment and resources which one single family is not able to sustain.”
“I will always be the first fan of Milan, the team that my father taught me to love as a child, the dream that we realised together. To the new owners I give my best and most heartfelt wishes that you achieve goals even more extraordinary than those achieved by us.”
AC Milan sold to Chinese consortium: HumSub.TV
AC Milan sold to Chinese consortium: HumSub.TV
About HumSub TV
Introduction
HumSub TV is Pakistan’s leading forwarding-thinking, edutainment channel, aimed at promoting and upholding peace, interfaith harmony and social responsibility within Pakistan through informative and insightful programmes and documentaries; analytical interviews on issues pertaining to social, economic, legal and environmental set-up; dedicated shows to canvass and thereby promote the culture and heritage of Pakistan and in-depth coverage of national and international news.
HumSub TV is the first channel and thus a pioneer within its own right that mainly focuses on emphasising the “Rights” as well as the “Obligations” of the citizens in light of the Constitution of Pakistan, numerous International declarations signed by the Government and various laws that have been promulgated over the years but are not in the knowledge of the common citizen.
HumSub TV also aims to enter into bilateral agreements with other countries to promote not only their culture, heritage and tourism, but also their educational and medical facilities.
Following the successful launch of HumSub TV’s head office in Blue Area, Islamabad; the bureau office has been set up in Lahore.
Vision
To project positive image building of Pakistan and inculcate nationalism, as per the vision of the founder of the nation, Quaid-e-Azam Mohammad Ali Jinnah.
Mission
HumSub TV is resolute about the promotion of a pluralistic, inclusive and egalitarian society in Pakistan where all citizens are allowed to contribute to promote interfaith harmony, peace and collective wisdom in the social, political and economic development of Pakistan and to encourage critical and lateral thinking in the society. HumSub TV strives to make a positive contribution to this end.
HumSub TV’s Theme
HumSub TV, Pakistan’s first EDUTAINMENT Channel, has been set up for not only those audience residing in Pakistan or overseas but the international community on the whole. The vision of the channel is to project positive image building of Pakistan and inculcate nationalism as per the vision of the founder of the nation.
HumSub TV strives to make a positive contribution to this end by promoting pluralism, inclusiveness and egality in Pakistan and give voice to the suppressed. It endeavors to act as a positive catalyst for social change and Pakistani nationalism. It envisions providing a platform for airing critical and lateral thinking and collective wisdom by inviting positive minded intellectuals and opinion forming individuals for the promotion of interfaith harmony and peace in the social, political and economic development of Pakistan.
Whereas the channel airs upbeat edutainment programmes, it, nonetheless, has the primary objective of countering negative anti-Pakistan regional and international propaganda as well as advancing fundamental rights as encapsulated in the Constitution of Pakistan.
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