The Berlusconi Legacy End (2017)
April 2017: Fininvest sells Milan, ending Berlusconi's 31-year tenure.
Silvio Berlusconi's 31-year tenure as Milan president ended in 2017. On 5 August 2016 Fininvest signed a preliminary agreement to sell a 99.93% stake to the Chinese company Sino-Europe Sports Investment Management Changxing for about 520 million euros, and the deal was completed on 13 April 2017, when Rossoneri Sport Investment Lux became the club's parent company and Li Yonghong its chairman.
Lore & Background
Milan had declined after its 18th Scudetto; the only trophy of those years was the 2016 Supercoppa Italiana, won on penalties against Juventus under Vincenzo Montella. To finish the purchase, Li borrowed 303 million euros from the American hedge fund Elliott Management, and when he missed a repayment in July 2018 ownership of the club passed to Elliott.
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