AC Milan president Silvio Berlusconi has confirmed they have agreed to sell a stake in the Serie A club to Thai businessman Bee Taechaubol.
The deal, which will see Taechaubol acquire a 48 per cent stake in the Rossoneri, will be completed at the start of next month, just days after Berlusconi turns 79.
The 40-year-old Taechaubol signed a memorandum of understanding with Milan in January, but it has taken eight months for the details of the agreement to be smoothed over.
Berlusconi is set to stay on as the head of the club, while Taechaubol will take on the role of vice-president at the San Siro.
Speaking to reporters, Berlusconi said: "We're going to sign two days after my birthday [Sept. 29], even if I'm at an age where you don't really have anything to celebrate on your birthday.
"It's a very intelligent move. Commercialising the Milan brand, not only in China, where we have 242 million fans, but in all countries throughout Asia, is a very serious commercial plan which will see Milan gain over €100 million a year in added revenue.
"Mr. Bee is very serious, and I like him as a person too. He's a very welcome partner. We're going to make a great Milan together."