Chinese consortium Sino-Europe Sports Investment Management Changxing has acquired AC Milan from the Silvio Berlusconi backed Fininvest for a total of €740 million including €220 million of debt.
The deal also includes €350 million of further investment over the course of three years.
The deal follows similar moves by Chinese investors into European sports brands including investments into Inter Milan and West Bromwich Albion.
Rothschild acted as financial adviser to the acquirer with Lazard and BNP Paribas acting as financial advisers to the seller.