Sino-Europe Sports president Li Yonghong says they want to take AC Milan back to the top of the game.
Fininvest, the club's holding company, confirmed earlier today that an initial €85m deposit has arrived from the group.
“Today's announcement represents a milestone in the process that will lead to us writing a new and glorious chapter in the life of this incredible team," Li Yonghong said.
“For many generations of fans, Silvio Berlusconi's Milan embodied the very idea of winning and success.
“Our goal is to return this legendary team to the level of the best clubs in the world."