AC Milan: preliminary contract for the sale of the club to a group of Chinese investors for €740m

"Mr. Silvio Berlusconi, Chairman of AC Milan, has approved the preliminary contract signed by Mr. Danilo Pellegrino, CEO of Fininvest, and Mr. Han Li, representative of a group of Chinese investors, concerning the purchase of the entire stake owned by Fininvest in AC Milan equal to 99.93%," announced the Fininvest holding company owned by the Berlusconi family, on 05/08/2016.

The group of Chinese investors is collected within the entity Sino-Europe Sports Investment Management Changxing, which includes, in particular, Haixia Capital, an investment fund backed by the Chinese State, and the entrepreneur Yonghong Li, who acts as the head of the group which will buy AC Milan, and led the negotiations with Fininvest. "Other investors will acquire shares of AC Milan, some of which are (Chinese) State-controlled entities," added Fininvest.

The acquisition of AC Milan, which must be approved by Italian and Chinese authorities "before the end of 2016", values the club at €740m, including debt estimated at €220m. The agreement provides that the new shareholders invest €350m over three years…