MILAN (Reuters) - The Chinese consortium seeking to buy Italian football club AC Milan is committed to signing the deal soon, it said on Saturday after the club's owner Silvio Berlusconi hinted at a further delay to the long-awaited acquisition.
The group of investors, backed by Haixia Capital and entrepreneur Yonghong Li, signed a deal in August with former Italian Prime Minister Berlusconi to gain full control of the Serie A club through investment vehicle Sino-Europe Sports Investment Management Changxing (SES).
Last week, SES said the deal would likely be sealed on Dec. 13.
In a TV interview with Italy's SKY TG24 on Saturday, Berlusconi said SES had assured him it had the money to buy the club, but the approvals the investors needed from the Chinese government could further delay the closing.
If the approvals do not come in time, Berlusconi said he was prepared to postpone the closing for a limited time, up to a maximum of a month and a half.
"SES thanks Chairman Berlusconi for his words and confirms its strong commitment to close the negotiations as soon as possible," the investment vehicle said.
The deal values the club at 740 million euros (628 million pounds), including 220 million euros of debt.
The investors have already paid 100 million euros, in two separate tranches, to Berlusconi's Fininvest family holding company and are due to put the remaining 420 million in at the closing of the deal.