AC Milan set for €1bn takeover by investors from China

Silvio Berlusconi is said to be preparing to sell off his 75% stake in Serie A giants AC Milan to a group of Chinese investors, according to the Daily Mirror.

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The former Italian Prime Minister saved the club from bankruptcy when he bought them back in 1986, and has since led them on to eight league titles and five European Cup victories.

But now reports in Italian daily newspaper Gazzetta dello Sport are claiming that a Berlusconi is negotiating a deal to sell off his majority share in the club to a group of Chinese investors, stating “the sale of 75 per cent of Milan to the Chinese has been agreed on”.

The consortium taking part in the deal is said to include Hong Kong based businessman Richard Lee, who was seen taking in a game at the San Siro alongside Berlusconi back in October.

However, Berlusconi’s daughter, Barbara, will likely remain on the board of directors once the sale has gone through.

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