(Source: CGTN)

In news from the football world, AC Milan, is getting a Chinese accent of sorts. The Italian giants have been sold to a consortium -- Rossoneri Sport Investment Lux, which is led by Chinese businessman Li Yonghong. 

The deal is worth 740 million euros, or 786 million US dollars. It was finalized Thursday, putting an end to the 31-year ownership reign of business tycoon Silvio Berlusconi.

Li Yonghong and Li Han head the consortium and arrived in Italy this week.

The club has a huge fan base in China but has struggled for financial support in recent years.

The new owners are expected to invest in an effort to try to get Milan to be more competitive, and rejoin the most successful clubs in Europe.