Silvio Berlusconi says he had no choice but to sell Milan to Chinese investors as there were no Italian alternatives.

The former Diavolo owner finally completed his sale of the club to the Rossoneri Sport Luxembourg investment group, led by Yonghong Li, last month.

Speaking to Panorama, the 80-year-old explained that the influx of money into football from places such as the Middle East and Far East have made it impossible for families such as his own to continue running successful clubs.

Silvio Berlusconi says he had no choice but to sell Milan to Chinese investors as there were no Italian alternatives.

The former Diavolo owner finally completed his sale of the club to the Rossoneri Sport Luxembourg investment group, led by Yonghong Li, last month.

Speaking to Panorama, the 80-year-old explained that the influx of money into football from places such as the Middle East and Far East have made it impossible for families such as his own to continue running successful clubs.

"Our best young people are looking for a future abroad," Berlusconi commented.

"And many businessmen are closing or selling their organisations to foreigners because there are no longer any credible Italian buyers.

"It happened to me too with Milan, which I will miss massively.

"Oil money has changed football. No family, no matter how wealthy, has the economic power to keep a team at the high level that a great club deserves.

"I will remain Milan's biggest fan, ready to celebrate and suffer every Sunday, like I did as a boy when my father took me to the stadium."

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