CCTV, the state-owned Chinese television channel, has confirmed that Baidu founder and tycoon Robin Li has acquired AC Milan.
It is reported that Li has paid $437million (€390million) to acquire the club, and can be seen here in Chinese below.
Sono partiti filmati sulle TV cinesi sul Milan con il titolo Baidu ha acquistato il Milan,Robin spende 437milioniusd pic.twitter.com/YXPx2Hinas
— Edo86 (@edozjg86) July 15, 2016
It is unknown for definite what percentage of Milan he has acquired, with reports varying between 80% and 70%.
The video confirming the announcement can be seen here.
This is the announcement that a lot of Milan fans have been waiting for in order to get preparations for the 2016/17 season underway, but an official club announcement is needed to make totally sure of the situation.