The sale of Serie A giants AC Milan to a Chinese investment group finally took place on Friday, as Fininvest sold its stake of 99.93 per cent in the club.
According to an official press release, Fininvest values Milan at €740 million, in addition to some €220 million worth of debt. AC Milan Club of NYC shared the official statement:
Here is the official Fininvest press release in English of the sale of @acmilan. Please RT. -faz pic.twitter.com/SfQRY7ivVq
— AC Milan Club of NYC (@ACMilanNYC) August 5, 2016
The sale brings an end to the Silvio Berlusconi era, which was one of the most successful in the club's history.