Wolverhampton Wanderers owners Fosun International to buy AC Milan?

Wolverhampton Wanderers' new Chinese owners Fosun International have been linked with a takeover of Serie A giants AC Milan.

Milan president Silvio Berlusconi, who has owned the club since 1986, has been in discussions with a Chinese consortium led by Sonny Wu for more than a year but their period of exclusivity in negotiations expired on July 31.

According to Gazzetto dello Sport, Fosun have now emerged as "shock contenders" to take over at the San Siro club and are being aided in their talks by renowned agent Jorge Mendes, whose clients include Jose Mourinho and Cristiano Ronaldo.

Wu's offer to buy the club was believed to be for a fee of around £424m, plus a commitment to wipe out £204m in debt, but Fosun's bid is thought to be worth "considerably more".

Fosun took over Championship side Wolves last month for just £45m.