AC Milan have confirmed date for the official conclusion of takeover negotiations with a consortium of Chinese investors.
The sale of the Serie A club by Silvio Berlusconi's Fininvest group, who have been owners for over 30 years, will officially go through on Dec. 2 or Dec. 13 at the latest.
Dec. 13 has been pencilled in as a reserve date should all the necessary paperwork and documentation not be signed off in time for the first scheduled meeting of shareholders.
A statement on Milan's official website said the club would officially change hands on one of these two dates.
"The advisors' board of AC Milan, who met today, have determined, at the request of the shareholders Fininvest S.p.A, to call an assembly of shareholders for the day of Dec. 2, 2016, for a first sitting and, if necessary, for the day of Dec. 13, 2016, for a second sitting," the statement said.
"The assembly will be called to determine, among other things, the composition of the social organs in order to consent Fininvest S.p.A to fulfill its obligations taken with the signing of a preliminary contract, the object of which was the sale of their entire shareholding in AC Milan."
Berlusconi relinquishes control of the Serie A club at a time when they have failed to qualify for Europe for three straight seasons.
The 80-year-old recently said his decision to sell was irreversible as he no longer has the necessary time or strength to dedicate to the club.