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Berlusconi ready to relinquish power at AC Milan

Silvio Berlusconi is ready to hand control of AC Milan to new investors to help the club compete with Europe's elite again.

The former Italian president has been in charge at San Siro since 1986, but speculation he is ready to sell his majority share has been rife for some time.

Talk of investment from China surrounded Milan during the 2015-16 season, with reports suggesting Berlusconi would relinquish 70 per cent of his shares.

And although a deal has yet to be struck, the 79-year-old has given the clearest indication he is ready to step aside to aid the club's revival.

"I think that after 30 years the time has come for me to leave AC Milan in good hands," he told TeleRadioPiu.

"I want to sell AC Milan to someone able to make it shine again all around Europe and the world, someone keen on investing money every year."