Fininvest announce that AC Milan have been sold to a Chinese Consortium

It’s happening!

Thanks to Tom Rutherford manning our Twitter feed, we can also bring you the English version of Fininvest’s press release.

Silvio Berlusconi will release a 99.93% stake to groups operating through the SINO-EUROPE Sports Investment Management Changxing Co. LTD. Haixia Capital, SDIC and Yonghong Li make up this group and Li would be the leader of the whole pack.

Fininvest’s statement implies that an immediate investment of €100 million will be made and a future €350 million will be paid in installments.

This document doesn’t say much about the future of Milan, but Fininvest aimed to sell at a group which could provide greater financial clout than Berlusconi and offer a better structure that can help ensure Milan are competing at the height of European football.

There’s not much clarity here, but there’s a few facts. Most important among them all is that AC Milan have been sold and can move forward.