Silvio Berlusconi: 'AC Milan sold to Chinese consortium'

Serie A club AC Milan has been sold to a Chinese consortium, according to owner Silvio Berlusconi.

The former prime minister of Italy took control of the team in 1986, winning eight league titles and five European Cups during this period, although they have been trophyless for the last five years.

"Milan now has chosen this path toward China," Berlusconi said in a video posted on the Gazzetta dello Sport website.

"It's an important decision to give AC Milan to someone able to make it be a protagonist in Italy, Europe and globally. I didn't discuss price, I've accepted what they offered me."

Inter Milan, the Rossoneri's city rivals, were sold to Chinese electronics retailer Suning Commerce Group last month.