Fri Apr 14, 2017 10:7PM
Head of Rossoneri Sport Investment Lux, Chinese businessman and new owner of the AC Milan football club, Yonghong Li (R) poses with Rossoneri Sport Investment Lux representative David Han Li (L) during a press conference on April 14, 2017 in Milan. © AFP
Head of Rossoneri Sport Investment Lux, Chinese businessman and new owner of the AC Milan football club, Yonghong Li (R) poses with Rossoneri Sport Investment Lux representative David Han Li (L) during a press conference on April 14, 2017 in Milan. © AFP

Italy’s AC Milan after it was taken over by new Chinese owners on Thursday after months of delay.

The deal, worth 740,000,000 Euros, puts an end to former Italian Prime Minister Silvio Berlusconi's 31-year reign at the club.

Under Berlusconi, the Rossoneri won trophies both at home and abroad, including 5 Champions League titles and 8 Seria A titles.

However, they had declined in the recent years and are currently 6th in the Italian top flight’s standings.

The new owners and the newly-appointed CEO, Marco Fassone are looking to put the club among the best in Europe again and return to the Champions League action by 2018.