Chinese investors confirm AC Milan takeover

18 April 2017

The £628million sale of Serie A side AC Milan to Chinese investors Rossoneri Sport Investment Lux was completed last week.

The agreement marks the end of former Italian Prime Minister Silvio Berlusconi's 31-year tenure, during which the club have won 31 trophies, including five European titles.

The sale of a 99.93% stake marks the final step in a deal which started in August 2016 with an initial purchase agreement.

Rossoneri Sport Investment Lux, fronted by Chinese businessman Li Yonghong, has committed to an injection of funds aimed at "strengthening AC Milan’s financial structure" and will completely wipe out the club’s debts of €220 million.

Li Yonghong declared he wanted to return AC Milan, which currently lies sixth in Italy's top flight, to its status as the number one club in the world.

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