Friday, 5 August 2016


Silvio Berlusconi is set to sell the Rossoneri to a group of investors after giving a preliminary contract the green light as a lengthy campaign to sell the club comes to an end.
A group of Chinese investors is one step closer to completing its takeover of AC Milan after president Silvio Berlusconi approved the preliminary contract concerning their purchase of the club.

The CEO of Berlusconi's holding company Fininvest, Danilo Pellegrino, and Han Li – representative of the group of investors – signed a contract which would see the incumbent owner's 99.93 per cent stake sold.
Both parties aim to complete the takeover by the end of the calendar year as they await the green light from the Italian and Chinese authorities.
"Mr Silvio Berlusconi, chairman of AC Milan, has approved the preliminary contract signed by Mr. Danilo Pellegrino, CEO of Fininvest, and Mr Han Li, representative of a group of Chinese investors, concerning the purchase of the entire stake owned by Fininvest in AC Milan equal to 99.93 per cent," an official Fininvest statement reads.
"The binding contract between the parties will be completed by the end of 2016, subject to the obtaining of applicable authorisations from the Italian and Chinese authorities. The agreement values AC Milan at €740 million with an estimated indebtedness of approximately €220m.