Silvio Berlusconi has reportedly sold 47 percent of AC Milan to the group led by Bee Taechaubol for a reported €450 million.
Talks had broken down after Mr Bee had bid €1 billion for the entirety of the club and Berlusconi refused, saying he would only listen to offers for a minority shareholding in the club.
According to Gazzetta.it, an agreement was finally reached in an hour-long meeting in Arcore between the Milan president and the Thai businessman that will see Berlusconi remain at the helm of Milan for three more years.
At one stage the former Italian president had questioned whether Taechaubol’s bid was in the best interests of the long-term future of Milan and appeared to favour reaching an agreement with a group of Chinese investors.
It was believed they have the backing of the government in Beijing and would therefore have far greater financial muscle than that of their Thai rival.
However, the long saga is finally over with the sale to Mr Bee and Milan can concentrate on trying to arrest their dismal position on the pitch after finishing 10th in Serie A and sacking coach Filippo Inzaghi.
