AC Milan seek rebirth with Chinese investment

Both clubs in the Italian city of Milan now belong to Chinese investors and mastermind of the AC Milan sale Yonghong Li has met the Italian press alongside CEO Marco Fassone.

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AC Milan seek rebirth with Chinese investment

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AC Milan’s new Chinese owners have been on parade glowing at their acquisition of the one-time kings of European football.

Consortium leader Yonghong Li and managing director Marco Fassone spoke to the press to confirm 350 million euros would be spent over the next three years to improve the club.

“We are AC Milan, so we cannot even afford to say ‘Let’s take it easy and see what happens’. Our idea is to be back in the Champions League as soon as possible, there’s no denying that the Champions League is a stage that a team like AC Milan cannot afford to miss, for visibility, finance and prestige,” said Fassone.

In the 31 years of the Silvio Berlusconi era the flamboyant billionaire took the club to glory with his money; among the trophies won were five European cups and eight Italian league titles.

But as he became more involved in politics in the 1990s Berlusconi’s club languished. Now both clubs in Milan are Chinese-owned, and Saturday’s derby, moved to lunchtime, could scoop a 566-million-strong TV audience in the Asia-Pacific region.