Silvio Berlusconi selling A.C. Milan to the Chinese

(Photo: Bplanet/shutterstock.com)

For some time now there have been allegations in newspapers about Silvio Berlusconi's plan to sell 80% of the club to Chinese investors, and that the agreement on the sale was supposedly reached on Tuesday.

After three months of negotiations, which were delayed due to Berlusconi's health problems, the agreement has allegedly already been made for the Chinese partner to take over 80% of the club at the price of EUR 750 million, which includes taking over the club's EUR 240 million debt.

Berlusconi has, according to the sources, held a meeting with the chairmen of Fininvest, the company which he founded when he became the owner of A.C. Milan, and he will, according to the agreement, remain the club's president for another three years, after which the Chinese fund will be able to buy the remaining 20% of A.C. Milan ownership.

Italy expects the news to be confirmed during next week.