It looks like Silvio Berlusconi is selling AC Milan to a Chinese conglomerate

Fininvest, the company own by ex-Italian Prime Minister Silvio Berlusconi, is likely to reach a deal to sell AC Milan to a consortium of Chinese investors very soon, according to Reuters.

A source told the news agency that "today will be an important day for the possible sale of the club."

This is not the first time talk of selling AC Milan to a Chinese business has come up - in May Italian publications said that Alibaba owner Jack Ma was interested in buying the club, but nothing came of it.

Reuters quotes a source as saying the mystery Chinese consortium now buying AC Milan have made an offer which values the club at €700 - 750 million (£885 million; $834 million) including debt.