Chinese state television CCTV announces Robin Li purchase of Milan

By Oliver Fisher -

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.

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.

Tags AC Milan Italy Mercato Milan Milan China News Robin Li Rossoneri Serie A