Silvio Berlusconi’s holding company Fininvest turned €120m losses into a profit of €687m by selling Milan.
The patron had held on to the club for 31 years, taking it from the brink of bankruptcy to the most successful side in the world.
However, with the costs of modern football and his political career taking up much of his time, the Rossoneri had become a drain on Berlusconi’s resources.
He finally sold the club to Yonghong Li in April 2017 for €740m and this has absolutely transformed Berlusconi’s financial outlook.
Silvio Berlusconi’s holding company Fininvest turned €120m losses into a profit of €687m by selling Milan.
The patron had held on to the club for 31 years, taking it from the brink of bankruptcy to the most successful side in the world.
However, with the costs of modern football and his political career taking up much of his time, the Rossoneri had become a drain on Berlusconi’s resources.
He finally sold the club to Yonghong Li in April 2017 for €740m and this has absolutely transformed Berlusconi’s financial outlook.
Fininvest closed out 2016-17 with losses of €120.2m, but the 2017-18 financial year saw profits of €687.7m.
The sale of Milan alone registered as a profit of €611.5m.