The details have been ironed out, and the man known as "Mr. Bee" is finally about to become an owner of Milan.

Silvio Berlusconi said Tuesday he and Bee Taechaubol have reached a deal for the Thai investor to purchase 48 percent of the Italian club. The contracts will be signed Sept. 29, two days after Berlusconi's 79th birthday.

"Mr. Bee is very serious, and I like him as a person, too," Berlusconi told reporters in Milan. "He's a very welcome partner. We're going to make a great Milan together."

Berlusconi bought Milan in February 1986, saving the club from bankruptcy. This came four years after Milan's second relegation to Serie B in the 1980s. The Rossoneri have not been relegated since. Within four years of Berlusconi's purchase, the club won the European Cup twice.

On Berlusconi's watch, Milan has won the European Cup/UEFA Champions League five times, Serie A eight times and won the Intercontinental Cup/FIFA Club World Cup three times. The club has not won a trophy since the 2010-11 Serie A success, and Milan will end the current season on a nine-year drought without a Champions League crown. Only Real Madrid (10) has won the competition more than Milan, which has claimed victory seven times.

Taechaubol signed a memorandum of understanding on one of many visits to Milan back in January. His investment into the club has appeared inevitable since the end of last season.

The new investment into the club is set to give Adriano Galliani a richer war chest with which to pursue talent. Milan spent about 90 million euros in the transfer market this summer, a significant increase over recent seasons.

On top of Taechaubol's personal wealth, he also has a business plan that would see Milan's revenue skyrocket, thanks to strategic marketing in Asia. In China alone, Milan has an estimated following of 242 million fans. Taechaubol's plan, which Berlusconi described as "a very intelligent move," could see Milan gain more than 100 million euros per year in added revenue.

Both Berlusconi and Taechaubol also want to keep Milan at the San Siro. Plans to reconstruct the Portello trade fair site into a new stadium have fallen apart. With the improvements being made to the San Siro ahead of the Champions League Final next year, neither owner wants to see Milan leave its home of 90 years.