GSR Capital owner Sonny Wu is reportedly in advanced talks to acquire Italian soccer club AC Milan from Silvio Berlusconi's Fininvest SpA, according to sources familiar with the matter.

A source told The Wall Street Journal that the group is poised to acquire 80 percent of the club for around $827 million, making it the biggest investment by a Chinese company in a world-class soccer club.

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The Chinese consortium will eventually take over the remaining 20 percent and invest around $441.4 million over the next two to three years.

In an interview with Bloomberg, Wu revealed that GSR Capital is planning to meet with Berlusconi "to establish a partnership for global markets." He, however, refused to give any more comments about the matter.

Meanwhile, Nicholas Gancikoff, Italian investor and sports-business consultant, is allegedly taking a lead role in the deal and will most likely sit as a top executive in the club once the sale pushes through.

Sources have revealed that GSR Capital is included in the investor group and that its chairman Sonny Wu helped Ganickoff gather other Chinese investors for the deal. Chinese businessman Steven Zheng is also a part of the investor group.

Sources said that the Chinese consortium has constantly been in touch with AC Milan's parent company for almost two years. However, negotiations stalled after Berlusconi chose Bee Taechaubol as his preferred buyer.

Talks resumed when the Thai businessman failed to raise the amount needed to buy the seven-time European champion Serie A club. 

TagsGSR Capital, AC Milan, Silvio Berlusconi, Soccer team, Sonny Wu