The takeover of AC Milan

The takeover of AC Milan was completed yesterday, with Silvio Berlusconi selling the club to a Chinese consortium after 31 years in charge. The deal, which values Milan at $800 million (Sh87.2 billion), requires the investors to spend $372 million (Sh38.4billion) over three years on improvements.
The group, led by Chinese businessman Yonghong Li, has been attempting to buy Milan for some time but the deal has hit a series of delays and the sale has been postponed twice. "I thank Berlusconi and Fininvest for their trust and the fans for their patience, from today we will build the future," Li said. Berlusconi's holding company, Fininvest, released a statement announcing that it had completed the transfer of its 99.93 percent stake in Milan to Rossoneri Sport Luxembourg — which was formerly known as Sino-Europe Sports. "Today's finalization gives full effect to the takeover agreement," Fininvest said in the statement.
"The buyers have confirmed their commitment to fulfill important recapitalization investments to the balance sheet and strengthen AC Milan's finances and assets," Fininvest said.