Silvio Berlusconi on 740 million euros deal: "I sold AC Milan out of love"

The Italian magnate Silvio Berlusconi stated on Thursday that his sale of AC Milan to a group of Chinese investors was "an act of love".

He assured in a statement that the group has the intention of investing in the club, and situating it amongst the best in the world:

"30 years ago I bought AC Milan out of love. I sell it as an even greater act of love.

"I confide the team to a group with the necessary recourses and the desire to invest, to allow the team to compete with the biggest international clubs once again."

The former Italian prime minister said he was "naturally shocked and hurt" by the sale of the 'Rossoneri' but also "serene" due to "the conviction of having acted once again in the best interests of AC Milan." 

Berlusconi also stated that he takes "extraordinary memories without equal" from his time as the club's owner, as he has had "the privilege of guiding the club I love to becoming the most lauded in the world."

He recalled the "great players, managers and directors" that he has worked with, and praised the club's fanbase, who provided "the passion of millions of people for the red and black colours, that was decisive in making a special team."

Berlusconi will turn 80-years-old next month, and will receive 740 million euros for a stake of 99.93% in the club.