AC Milan moves into Chinese ownership

AC Milan

AC Milan are set to be the latest top-tier European football team to move into Chinese ownership after long-time owner Silvio Berlusconi said he had sold the club… Though he did not disclose the identity of those behind the purchase, Mr Berlusconi said: “Milan has now embarked on this path towards China”… The sale comes as Chinese investment in European football has grown rapidly in recent times. Last month, Chinese retail group Suning Holdings paid €270 million for a 70 per cent stake in Inter Milan. In March, billionaire Wang Jianlin’s Dalian Wanda Group agreed a deal with Fifa to sponsor the next four football World Cups for an undisclosed sum. Last year, Wanda acquired a 20 per cent holding in Atlético Madrid football club for €45 million. A consortium of Chinese investors paid $400 million for a 13 per cent stake in Manchester City in December.

 

Murad Ahmed and James Fontanella-Khan

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