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End of Berlusconi Era as Chinese Group Buys AC Milan

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15 April 2017 09:42 WIB

From left, David Han Li, Silvio Berlusconi and Yonghong Li, pose in Arcore, Italy, Thursday, April 13, 2017. A new era began at AC Milan on Thursday after the sale of Italys most successful club to a Chinese-led consortium ended Silvio Berlusconis 31 years in charge. Berlusconis holding company, Fininvest, released a statement Thursday 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. Livio Anticoli/ANSA via AP

15 April 2017 00:00 WIB

David Han Li arrives at a notary's office for the transfer of ownership of AC Milan from Silvio Berlusconi's Fininvest to China's Li Yonghong in Milan, Italy, April 13, 2017. Silvio Berlusconi's 31-year reign at AC Milan is over. Italy's most successful club was finally sold by the former Italian prime minister to a Chinese-led consortium after several delays over the past few months. REUTERS/Daniele Mascolo

15 April 2017 00:00 WIB

David Han Li, center, arrives at a notary's office for the transfer of ownership of AC Milan from Silvio Berlusconi's Fininvest to a Chinese consortium led by Chinese businessman Yonghong Li, in Milan, Italy, Thursday, April 13, 2017. The deal, which values Milan at 740 million euros (about $800 million), requires the investors to spend 350 million euros ($372 million) over three years on improvements. Flavio Lo Scalzo/ANSA via AP

15 April 2017 00:00 WIB

David Han Li looks from notary's office window during the transfer of ownership of AC Milan from Silvio Berlusconi's Fininvest to China's Li Yonghong in Milan, Italy April 13, 2017. Italian former prime minister Silvio Berlusconi finalised his troubled sale of soccer club AC Milan to a Chinese-led consortium on Thursday, a 740 million euro ($788 million) deal that tightens China's grip on the game in Italy. REUTERS/Daniele Mascolo

15 April 2017 00:00 WIB

Chinese businessman Yonghong Li, right, shakes hands with Silvio Berlusconi in Arcore, Italy, Thursday, April 13, 2017. A new era began at AC Milan on Thursday after the sale of Italys most successful club to a Chinese-led consortium ended Silvio Berlusconis 31 years in charge. Berlusconis holding company, Fininvest, released a statement Thursday 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. Livio Anticoli/ANSA via AP

15 April 2017 00:00 WIB

From left, AC Milan designated CEO Marco Fassone, Fininvest CEO Danilo Pellegrino, David Han Li, and head of Fininvest's business development, Alessandro Franzosi, pose following the transfer of AC Milan soccer club, in Milan, Italy, Thursday, April 13, 2017. The takeover of AC Milan was completed Thursday, with Silvio Berlusconi selling the club to a Chinese consortium after 31 years in charge. 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. Fininvest Press Office via AP

15 April 2017 00:00 WIB