AC Milan: "The sale (of the club) is an act of even greater love" (Silvio Berlusconi)

"30 years ago, I bought AC Milan for love. The sale is an act of even greater love. I entrust the club to a group that has the resources and the will to invest in the club so it can compete with the top international clubs once again," said Silvio Berlusconi, owner and honorary president of AC Milan (Serie A TIM), in a statement posted on the club's Facebook page and relayed by the Milanese club on 11/08/2016.

Berlusconi has owned AC Milan since 20/02/1986. "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 acquisition of AC Milan, which must still be approved by both 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…