Former Italian Prime Minister Silvio Berlusconi finalised the sale of football club AC Milan to a Chinese-led consortium.
The €740m deal tightens China's grip on the game in Italy. It's the biggest Chinese investment in a European club and follows retail giant Suning Commerce Group's purchase of Milan rival Internazionale last year.
A Chinese firm also underwrites the media rights to the top league, Serie A.
In a statement, Berlusconi's family holding Fininvest said it had sold its entire 99.93% stake in the club to Luxembourg-based Rossoneri Sport Investment Lux, the company that replaced the original Chinese bid vehicle.
