Serie A giants AC Milan were sold to Rossoneri Sport Investment Lux on Thursday in a deal which sees the Chinese-led consortium take a 99.9% stake in the club.
The seven-time European champions who are Italy’s most succcessful club in international competition, have been owned by former three-time Italy prime minister Silvio Berlusconi since 1986.
A joint statement by AC Milan’s holding company Fininvest and Rossoneri Sport Investment Lux said: “Today Fininvest has completed the sale of the entire stake owned in AC Milan – equal to 99.93% – to Rossoneri Sport Investment Lux.”
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