Chinese-led groups now own AC Milan and Inter Milan

AC Milan officially taken over by Rossoneri Sport Investment Lux – led by Li Yonghong – on Thursday; Inter were bought by Suning Group owner Zhang Jindong in June 2016

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David Han Li, likely to become the future president of AC Milan, arrives for the transfer of ownership of the club from the Fininvest company of former Italian prime minister Silvio Berlusconi to Rossoneri Sport Investment Lux, led by China's Li Yonghong. Photo: EPA

Published: 11:50pm, 13 Apr 2017

Inter Milan will host AC Milan on Saturday for the first time with both clubs owned by Chinese-led groups after AC Milan were officially taken over by the Chinese-led consortium Rossoneri Sport Investment Lux – headed by Li Yonghong – on Thursday.

In a deal worth €740 million (HK$6.17 billion), the Chinese consortium’s takeover brings an end to Silvio Berlusconi’s 31-year reign at the club which garnered an impressive 29 trophies.

“It is with a mix of sadness and emotion that I leave the club. I will never forget the emotions I felt,” said Berlusconi, who as the club’s “number one fan” will expect a rousing ovation on Saturday.

Inter, the last Italian club to win the treble of league, Cup and Champions League, under Jose Mourinho in 2010, were bought by the Suning Group owner of Chinese billionaire Zhang Jindong in June 2016.

Zhang Jindong, owner of Suning Group who own Inter Milan and club chairman Erick Thohir. Photo: AP

Jindong, according to figures published by the Serie A club, bought Inter for €270 million from Indonesian Erick Thohir, who had purchased the club from Massimo Moratti in October 2013.

Former Italy prime minister Berlusconi acquired AC Milan in 1986 and oversaw the most successful period in the club’s history, before announcing last August, following several seasons of decline, his intention to sell.