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AC Milan finalise sale of club to Chinese AC Milan have been sold to a consortium led by a Chinese businessman for 627million.
The Serie A club's owner Silvio Berlusconi decided to sell the club on Thursday to theconsortium, led by Yonghong Li, ending a saga going back to August. "Today's finalisation gives full effect to the takeover agreement signed by the managing director of Fininvest, Danilo Pellegrino, and David Han Li, the representative of Rossoneri Sport Investment Lux on August 15, 2016 and renewed on March 24 of this year.
"The details of the agreement are those announced and provide burberry rain boots outlet an overall valuation of AC Milan at 740m euros, consisting of a debt burden evauated on June 30, 2016, as per burberry sale items the agreements between the parties of around 220m euros. "That amount has been collected by Fininvest, along with 90m burberry outlet san diego euros as reimbursement of burberry belt men capital contributions made by Fininvest in favour of Milan from July 1, 2016 to today.