AC Milan £628million sale to Chinese investors Rossoneri Sport Investment Lux completed with new owner vowing to bring back glory
Li Yonghong declared he wanted to return Serie A to the No.1 club in the world after finally finalising deal to buy club
AC MILAN’S protracted £628million sale to Chinese investors, Rossoneri Sport Investment Lux, has been completed.
It brings the curtain down on the trophy-laden 31-year ownership of Silvio Berlusconi.
Negotiations had been ongoing for almost two years — with a deal announced in May 2016.
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But, complications initially delayed the sale, before even threatening to deny it.
However, Rossoneri Sport Investment Lux were eventually able to provide the cash required to complete the acquisition and the sale was agreed.
The deal has also seen the club’s debts completely wiped out.
New owner, Li Yonghong declared he wanted to return Milan to the No.1 club in the world.
But he will have to go some to replicate the success under Berlusconi.
The former Italian Prime Minister twice broke the world record and oversaw five European triumphs.
However, following three finals in five years from 2003 to 2007, they fell into a sharp decline.
Milan failed to get past the quarter-finals of the Champions League in any of the subsequent six seasons.
But worse was to come an eighth place finish in the 2013-14 season meant they missed out on European football altogether.
And they have failed to so since.
Although, a potential place in the Europa League could be on offer this time season, with Milan currently in sixth place.