AC Milan

Report: Berlusconi reaches deal to buy 3rd-division Monza

Updated Mar. 4, 2020 6:16 p.m. ET

MILAN (AP) — Silvio Berlusconi is reportedly getting back into football.

The Gazzetta dello Sport says Berlusconi's family holding company Fininvest has reached a deal to purchase Serie C club Monza in a deal worth between 2.5 and 3 million euros ($3-3.5 million)

The 81-year-old Berlusconi, a three-time Italian premier, last year sold AC Milan to a Chinese-led consortium for $800 million. U.S.-based hedge fund Elliott Management then took over control of Milan two months ago after the Chinese owner missed a deadline to repay part of a loan.

The Gazzetta says the Monza deal should be signed by the end of the month.

Former Milan vice president Adriano Galliani is slated to be Monza's CEO.

Berlusconi and Fininvest did not immediately comment.

Monza is located just outside Milan.

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