Chinese Central Television or CCTV have today confirmed that Robin Li’s Baidu group have purchased a majority stake in AC Milan.
Dalla Cina: CCTV confirmed Baidu $ 437 million acquisition of AC Milan— Antonio Vitiello (@AntoVitiello) July 15, 2016
The figure is estimated to be $437 million and would give Baidu and Li control of the football club.
We will have more for you as this develops, but please keep in mind that reports are varying right now and a variety of sources have been fed false information in the past.
However, this looks very promising right now and Silvio Berlusconi’s reign at Milan might just be coming to an end. This could be the dawn of a new era for Milan or the embodiment of false hope.
Either way, it’s time to move from hopeful to cautiously optimistic. Things are picking up steam and we may even have a confirmation by the end of today or over the weekend.
It might be a good day to be a Milan fan!