Sino Europe Sports will miss the target presented to them, although talks are not dead yet as Fininvest continue to seek the sale of the San Siro side
AC Milan vice president Adriano Galliani has announced that the takeover deal that was expected to see the club sold will not be completed by the deadline.
Goal reported on Tuesday that there were problems with the purchasers, Chinese group Sino Europe Sports (SES), raising funds to complete the final of three instalments.
SES had been set a March 3 completion date for the purchase of the San Siro side, but they will not make that target.