AC Milan sold to Chinese consortium
MILAN — Silvio Berlusconi’s 31-year reign at AC Milan is over.
Italy’s most successful club was finally sold by the former Italian prime minister to a Chinese-led consortium after several delays over the past few months.
Berlusconi’s holding company, Fininvest, released a statement Thursday announcing that it had completed the transfer of its 99.93 per cent stake in Milan to Rossoneri Sport Luxembourg — which was formerly known as Sino-Europe Sports.
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.