Milan: A consortium of Chinese investors has agreed to buy 99.93% of Italian football club AC Milan and a deal is expected to be announced on Friday, a person with knowledge of the transaction said.

The deal is expected to be completed by the end of 2016, the person said.

Fininvest, the holding company of the Berlusconi family which owns AC Milan, entered exclusive talks with the consortium in May.

People familiar with the matter have previously said the consortium’s offer for AC Milan values the club at between €700 million and €750 million ($834 million) including debt. Reuters