A Tuttomercatoweb is said to have reported that Silvio Berlusconi has accepted a Chinese consortium’s €550m offer to buy AC Milan.
The group has been granted the exclusive right to negotiate a takeover deal believed to be around 70 per cent.
Berlusconi who was initially said to be a stumbling block who intended to maintain an active role even after sale is reported to have softened his stance.
The former Italian Prime Minister has accepted an offer of €550m, with the agreement that the Rossoneri’s €250m debt will also be paid-off.
The figure mentioned is not clear as to how much equity will be sold, but it’s believed to be a majority stake, with the final details set to be announced.