Following the completion of the takeover of the Rossoneri by Chinese investors, the long-time owner has written to the club's supporters
Silvio Berlusconi has admitted that selling AC Milan was essential to the club's chances of returning to the summit of European football.
The 80-year-old's holding company Fininvest announced on Thursday that an agreement had at last been finalised for the sale of a 99.9 per cent stake of the club to Rossoneri Sport Investment Lux.
The Chinese consortium has paid a total of €740million to acquire the club and has made assurances that it will invest heavily to bolster Milan's "financial structure", Fininvest said in a statement.