A Chinese group are reportedly close to taking over Italian giants AC Milan.
It comes after its fierce Milan rivals Inter signed a deal with
Chinese conglomerate Suning Holdings Group, who now own 68.55% of the
club.
Italian press are reporting that a bid will take the shape of owning
80 per cent of the club for a fee of around €750m, including €240m of
debt.
Robin Li is alleged to leading the bid, he co-founded the Chinese search engine Baidu.
Milan’s president, Silvio Berlusconi, has apparently agreed to the
deal, which will include him staying as President, as well as
significant investment in the squad.
It continues China's investment in football, both domestically and
oversees. The Chinese Super League is attracting some of the world's
biggest teams, and various clubs around Europe are being bought by
Chinese investors.
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