Milan complete sale to China firm
Italian tycoon Silvio Berlusconi expressed sadness at selling AC Milan after 31 years in charge and called on the club's new Chinese owners to surpass his stunning 29-trophy haul.
Milan, who won five of their seven Champions League titles during Berlusconi's reign, completed their sale to a Chinese-led consortium in a 740-million-euro (S$1 billion) deal on Thursday night.
Berlusconi, 80, bought the ailing club in 1986 and oversaw their golden era, which included eight Serie A titles.
He said: "I leave today, after more than 30 years as owner and chairman of AC Milan. I do so with pain and emotion, but... I will always be AC Milan's No. 1 fan."
The new owner is Chinese businessman Li Yonghong, whose 500m-euro fortune came from the construction and packaging businesses.
Milan's city rivals Inter, whom they meet in a league match today (6.30pm), were also bought by a Chinese firm - retail giant Suning - last year. - WIRE SERVICES