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Silvio Berlusconi Sells AC Milan To Chinese Investors

Photo credit to Denis Sarkic via Flickr

Serie A

Silvio Berlusconi has sold Milan to a Chinese group represented by Han Li

Milan, Italy – AC Milan chairman Silvio Berlusconi has officially sold his shares to Chinese investors, La Gazzetta dello Sport is reporting.

The Chinese group is represented by Han Li.

The deal is expected to be completed by the end of 2016, the company statement said.

Fininvest, the holding company of the Berlusconi family which owns AC Milan, entered exclusive talks with the consortium in May.

The consortium’s offer for AC Milan values the club at 740 million euros including debt.

The contract stipulates that the new owners must invest 350 million euros in the club in the next three years.