Rome: Italian prosecutors have opened an investigation into whether the deal to sell AC Milan to Chinese investors last year was inflated for money-laundering purposes, La Stampa reported on Saturday.
Milan prosecutors want to know if the 740 million euros ($786 million) paid to Silvio Berlusconi to buy out the seven-time European champions was overvalued in a deliberate move to bring large sums of money into Italy from abroad, the newspaper said.
It has not immediately been possible to confirm the opening of the investigation with Milan prosecutors or lawyers for Berlusconi, the former Italian prime minister.
After more than 30 years in the hands of Berlusconi, a glorious period which saw the club win 29 trophies including five European Cups, Milan were sold on April 13 last year to a group of Chinese investors led by Li Yonghong.
The consortium took 99.93 percent of the club’s shares and also bought out its debt, which stood at 220 million euros on June 30, 2016.
But the number…