The long-awaited sale of AC Milan to Chinese investors could be completed next month.
Sino-Europe Sports announced on Thursday that the closing of the deal is slated for Dec. 13, when Milan will hold a shareholders' meeting.
The deal with the Chinese group, which includes the participation of a Chinese state investment fund, values the club at €740 million, and requires the investors to spend €350m over three years on improvements.
Silvio Berlusconi owns 99.93 percent of the club, which he purchased 30 years ago. The three-time former premier and billionaire businessman has been negotiating for more than a year to sell the Serie A club.
Coming three days before the Milan derby, the announcement appears intended to assure Milan supporters over the club's future.