AC Milan sold to Chinese-backed consortium

AC Milan have been sold to a Chinese-led consortium by former Italian prime minister
Silvio Berlusconi.

Chinese investor Yonghong Li flew in on Wednesday to complete the purchase of Milan.

The transfer of the final €190 million (£161m) – in addition to the €250m (£212m) deposit already paid and the €180m (£152m) loaned by American fund Elliott Management – arrived during the day, and the sale was completed on Thursday.

Details later…

SOURCE: African Spotlight