NEWS
Friday August 5 2016
Berlusconi: Painful but necessary

Silvio Berlusconi has described his decision to sell Milan to Chinese investors was ‘painful but necessary.’

The 79-year-old has brought his reign as Rossoneri President to an end by agreeing to allow Yonghong Li to complete a €740m takeover at San Siro.

Speaking briefly to a reporter, the former Italy Prime Minister also revealed he accepted a cut-price valuation of the club so long as there was a commitment to invest in new players.

“The sale of Milan was a painful decision but a necessary one,” Berlusconi told media agency Agi.

“I gave up a portion of the value as long as there was a commitment to invest.”