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AC Milan great era lasted as Silvio Berlusconi handed the ownership to Rossoneri Sport Investment Lux

AC Milan,Silvio Berlusconi,Rossoneri Sport Investment Lux

AC Milan, one of the great names in footballing world following on the footsteps of their city rival handed their ownership to Chinese Investors. Fininvest completed the sale of their 99.93% share in AC Milan club to Rossoneri Sport Investment Lux. Silvio Berlusconi – Italy’s former Prime Minister, who owned the Milan club since 1986 finally hander over the ownership to the Chinese owner.

The deal took a long year to complete, but finally ownership switched. The closing is the last step of the purchase agreement signed on 5 Aug 2016 and renewed on 24 Mar by Fininvest CEO Danilo Pellegrino and David Han Li as a representative of Rossoneri Sport Investment Lux, reported by AC Milan official press release.

The terms of the agreement were same as disclosed in August, an aggregate evaluation of AC Milan equal to 740 million. It includes club debt of 220 million as well as 90 million running cost of the club since July 2016. The buyers confirmed their commitment to undertake significant capital increase and liquidity injection aimed to strengthen AC Milan’s financial structure.

There will be investment in the team and they would love to bring back the Rossoneri glory days, but AC Milan great era has certainly lasted with Silvio Berlusconi transfer of ownership to the Chinese owners.

During Berlusconi era, AC Milan won eight Serie A trophy, five European cup/Uefa Champions League, one Coppa Italia, seven Super Coppa Italiana, and five Uefa Super Cup. Berlusconi was certainly at the heart of Milan’s success. Rossoneri great era lasted with Berlusconi departure from San Siro, but it was necessary to rebuild the history of the club.

Milan last won Scudetto in 2010/11 and they have really struggled in recent years to compete against the Serie A new force. They needed capital to carry on and maintain the club historic brand value. Rossoneri Sport Investment Lux promises to add value to the club and they are ready to invest heavily to make the club competitive again. But, they may promise for a great future, Berlusconi has already lived with it. He enjoyed the success with the club which Chinese owner can never achieve.

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