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Silvio Berlusconi agrees to AC Milan sale: details
The Italian news website insists that the Chinese consortium is led by Baidu’s funder Robin Li and includes the presence of the Evergrande group as well.
The Chinese consortium will reportedly acquire the 80% stake in the club for € 750 million, debts included. Berlusconi will remain in charge as club’s president for the next three years and the Chinese consortium will be allowed to buy the remaining 20% of the Serie A club after that time.
Adriano Galliani will also have a role in the club for the next three years, though Nicholas Gancikoff will be appointed as new CEO after the club’s takeover.
Silvio Berlusconi has been negotiating the sale of the club for more than one year. Twelve months ago he was close to finalize a deal with Bee Taechaubol, though the Thai broker failed to find solid and reliable partners to acquire a minority share in the club for € 400 million.
The identity of the Chinese consortium that will complete AC Milan's takeover has not been disclosed yet, though American advisor Sal Galatioto is known to be the group's representative.
