President “Milan” Silvio Berlusconi sells the club to Chinese investors.
Negotiations with the Chinese continued the last 12 months. “Football Italia” informs about the successful completion of dialogue – Berlusconi after the end of the transaction will receive 400 million euros.
According to the source, the new buyer Milan is investing in the club 1.1 billion euros – nearly 500 million in the European currency, the Chinese will pay for 80% of the “Rosso-Neri”, 200 million will go on repayment of debts, and 400 million will be sent to the development of the club.
The British newspaper “The Guardian” specifies the name of the main investor. He is the founder of search engine “Baidu,” Robin Li, whose fortune is estimated at 11.9 billion dollars.
“Over the past years, I could not cope with the management of the club. Now I made an important choice. I want to give AC Milan the people who will return it to the top. I sold the team to those who are able to return to her former glory,” said Berlusconi, who owned AC Milan since 1986.
“Milan” after a successful period in the middle of the last decade has seen a serious decline. The last trophy of one of the most renowned clubs in the world dated 2011.
