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AC Milan Timeline of Silvio Berlusconi's ownership of Serie A club

The seven-time European champions have been owned by former three-time Italy prime minister Silvio Berlusconi since 1986.

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Former Italian prime minister Silvio Berlusconi leaves after voting in a referendum on constitutional reforms in Rome on December 4, 2016 play

Former Italian prime minister Silvio Berlusconi leaves after voting in a referendum on constitutional reforms in Rome on December 4, 2016

(AFP)

A timeline on Silvio Berlusconi, the former three-time Italian Prime Minister and owner of AC Milan, who sold the Serie A club to Chinese-backed consortium Rossoneri Sport Investment Lux on Thursday:

Silvio Berlusconi

1936: born in Milan, the son of Luigi Berlusconi (bank employee) and Rosa Bossi (housewife) and the first of three children.

1961: Graduates from Universita Statale in Milan with a degree in law, his thesis on the legal aspects of advertising.

1965: Marries Carla Elvira Dall'Oglio, producing two children, Maria Elvira and Pier Silvio.

1973: establishes TeleMilano, the first Italian private television channel which evolves to become Canale 5, the first national private TV station.

1978: founds Fininvest, his first media group.

1979: completes construction of innovative 'Milan Due' (Milan Two) housing complex east of the city.

1980: confirmation of relationship with the actress Veronica Lario, which produces three children: Barbara (born 1984), Eleonora (1986) and Luigi (1988).

1980: founds Canale 5.

1982: buys Italia 1 television channel from the Rusconi family.

1984: buys Rete 4 television channel from Mondadori.

1985: divorces from Dall'Oglio.

1986: buys AC Milan, appoints Arrigo Sacchi as coach and helps save club from bankruptcy by investing sums which lure Dutch internationals Marco van Basten, Ruud Gullit and Frank Rijkaard.

1988: AC Milan end nine-year wait for Serie A title.

1989: AC Milan beat Steaua Bucharest 4-0 to end 20-year wait for European Cup.

1990: AC Milan retain European Cup with final win over Benfica.

1990: marries Lario in a ceremony attented by former prime minister and leader of the Italian Socialist party, Bettino Craxi.

1990: after years of legal limbo, Berlusconi's television channels given national approval after adoption of so-called Mammi law.

1991: Sacchi leaves AC Milan, replaced by Fabio Capello.

1992-1994: AC Milan win three consecutive Serie A titles.

1993: AC Milan lose Champions League final to Marseille.

1994: AC Milan stun Barcelona 4-0 to win Champions League final.

January 1994: elected to the Chamber of Deputies, three months after launching Forza Italia.

1991-1992: AC Milan become first team to win Serie A title without losing a single league game.

1994-1995: serves as Prime Minister of Italy.

1995: sells some media holdings to the now-defunct Kirch Group in Germany.

April 1996: loses snap elections to centre-left politician Romano Prodi.

1996: AC Milan win Serie A title, Capello quits to coach Real Madrid.

1999: expands media interests by forming the Epsilon MediaGroup with Kirch.

2001-2006: serves as Prime Minister of Italy.

1999: AC Milan end two-year period of decline to win Serie A title on club's centenary celebrations.

November 2001: AC Milan appoint Carlo Ancelotti as coach.

2003: AC Milan beat Italian rivals Juventus on penalties to win Champions League.

2004: Ancelotti steers AC Milan to Serie A title.

April 2005: Mediaset tax fraud trial begins, leading to indictment of 14 people including Berlusconi on charges of false accounting, embezzlement and tax fraud.

2005: AC Milan lose epic Champions League final, on penalties, to Liverpool after leading 3-0 at half-time.

April 2006: loses parliamentary elections to Romano Prodi.

2007: AC Milan win seventh European Cup, taking revenge on Liverpool with 2-1 Champions League final win.

December 2007: AC Milan win first FIFA Club World Cup trophy.

April 2008: re-elected in parliamentary elections following collapse of Prodi's government.

May 2008: sworn in for third time as Prime Minister.

2009: Ancelotti quits to take over at Chelsea.

2010: AC Milan appoint Massimiliano Allegri as coach.

2011: Milan court orders Fininvest to pay 560 million euros ($595m) in damages to Compagnie Industriali Riunite in a long-running legal dispute.

2011: AC Milan win Serie A title.

November 2011: resigns as Prime Minister after losing majority in parliament amid growing fiscal problems related to European debt crisis.

October 2012: sentenced to four years in prison, given a 10 million euro fine and banned from holding public office for three years for tax-fraud conviction in Mediaset trial.

May 2013: Court of Appeals confirms sentence, increases public office ban to five years.

August 2013: Court of Cassation confirms sentence, but pardons last three years. Due to his age (over 70), Berlusconi avoids imprisonment and is ordered to house arrest or community service.

December 2012: divorce settlement orders Berlusconi to pay ex-wife Lario $48m a year.

2013: AC Milan lose to Barcelona in last 16 of Champions League.

2014: AC Milan lose 5-1 on aggregate to Atletico Madrid in last 16 of Champions League.

2014: AC Milan holding company Fininvest announces net loss of 91.3m euros for 2014 financial year.

2015: Berlusconi signs preliminary agreement to sell 48 percent of club to Thai businessman Bee Taechaubol for 480 million euros.

2016: deal with Taechaubol collapses.

August 2016: Berlusconi agrees to sell club to Sino-Europe Sports Investment Management Changxing Co. in a deal that values the Serie A giants at 740 million euros ($825.4 million).

April 2017: Berlusconi sells 99.9 percent stake in club to the Chinese-backed consortium, now called Rossoneri Sport Investment Lux.

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