Silvio Berlusconi's sale of AC Milan moves a step closer

He has overseen a mostly successful era

Silvio Berlusconi

Image: Luca Bruno AP/Press Association Images

Former Italian Prime Minister Silvio Berlusconi's taken the next step to selling AC Milan for what could eventually be £800 million (€954 million).

He has agreed a deal with a Chinese consortium for his 99.9% stake in the club earlier this year, with Tuesday, December 13th scheduled as the completion date.

But the group has instead paid a second £84 million (€100 million) deposit, after the parties agreed to delay until March.

They are awaiting approval from China's government.

Berlusconi has been owner of the Rossoneri since 1986 and has since bankrolled a number of successful eras.

The club won European Cups in 1989 and 1990, before Champions League victories in 1994, 2003 and 2007.

Milan have also won eight of their 18 Serie A titles since Berlusconi's involvement with the club.

They have endured a relatively lean period in recent years but are enjoying a small revival of sorts.

Despite defeat to second placed AS Roma on Monday night in Serie A, a young Milan side are third in the table.