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    Silvio Berlusconi confirms sale of AC Milan

    I want to deliver AC Milan to people who can make the club a major force again not only in Italy, but in Europe and the world, he said

    Baku. 5 July. REPORT.AZ/ Silvio Berlusconi, has confirmed that he will sell the seven-time European champions to Chinese investors and expects to receive €400m (£338m) over the next two years.

    Report informs referring to the RIA Novosti, former Italian Prime Minister, the AC Milan President said Tuesday.

    He has confirmed sale of club to a Chinese investor. 

    "The choice I am making is an important one. I want to deliver AC Milan to people who can make the club a major force again not only in Italy but in Europe and the world."

    Robin Li, the founder of search engine Baidu and rated as China’s sixth-richest man, is believed to be leading the consortium, which will purchase a 70% share in the club.

    Berlusconi, who bought the club in 1986, has been negotiating for more than a year with various interested parties. Milan, who reported a loss of €93.5m last year, appointed Vincenzo Montella as their new coach last week. The club for the last time was an Italian champion in 2010-2011 season. 

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