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Chinese investors Rossoneri Sport Investment Lux have completed the £628m (740m euro) takeover of AC Milan, the first time in 31 years that the Serie A giants have changed hands - came after almost two years of negotiations. The Chinese investors promising "significant capital increases" The Serie A club have been owned by former Italy prime minister and billionaire Silvio Berlusconi since 1986. Berlusconi has relinquished control after over three decades at the helm and comes after previous delays.
The sale - first announced in May 2016 - was twice postponed because of funding complications, but a loan has enabled Rossoneri Sport Investment Lux to meet its obligations to complete the transaction.
Milan have won 29 trophies, including eight league titles and five European Cups, under Berlusconi's ownership.A.C. Milan are the fourth most successful club in the world and the most successful Italian club at international level. Milan has won a joint record three Intercontinental Cups and one FIFA Club World Cup, seven European Cup/Champions League titles (Italian record), the UEFA Super Cup a joint record five times and the Cup Winners' Cup twice. With 18 league titles, Milan is the joint-second most successful club in Serie A, along with local rivals FC Internazionale Milano. They have also won the Coppa Italia five times, and the Supercoppa Italiana seven.
However, Milan have not won Serie A since 2011 and finished seventh, 10th and eighth in the last three seasons of the Italian Serie A.
They are currently sixth in the league, 20 points behind leaders Juventus Torino.
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