A Chinese investor group pursuing a takeover of the AC Milan soccer club, which is controlled by former Italian prime minister Silvio Berlusconi, is targeting a deal by June, people with knowledge of the matter said.

The consortium, whose investors have a background in renewable energy and media, has agreed on most key terms and is seeking a deal in time for the summer transfer season, the people said, asking not to be identified because the talks are confidential.

Berlusconi's Fininvest and the Chinese group have already discussed plans to strengthen the squad, and the initial investment would be used to make the team more competitive rather than pay down debt, one of the people said.