Silvio Berlusconi poses with new Chinese investor-owners of AC MilanEPAThe paperwork is signed and finalised ahead of £628million Milan saleEPA
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Silvio Berlusconi had been the president and owner of AC Milan since 1986Getty ImagesSilvio Berlusconi broke world transfer record for first time to sign Ruud GullitGetty ImagesSilvio Berlusconi celebrates with players after incredible 1989 Euopean Cup final displayAP:Associated Press
The deal has also seen the club’s debts completely wiped out.
New owner, Li Yonghong declared he wanted to return Milan to the No.1 club in the world.
But he will have to go some to replicate the success under Berlusconi.
The former Italian Prime Minister twice broke the world record and oversaw five European triumphs.
However, following three finals in five years from 2003 to 2007, they fell into a sharp decline.
AC Milan are regarded as one of biggest clubs in European football historyPA:Press Association
Milan failed to get past the quarter-finals of the Champions League in any of the subsequent six seasons.
But worse was to come an eighth place finish in the 2013-14 season meant they missed out on European football altogether.
And they have failed to so since.
Although, a potential place in the Europa League could be on offer this time season, with Milan currently in sixth place.
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