MILAN (Reuters) -The Berlusconi family has agreed to sell soccer club AC Monza to U.S.-based investment firm Beckett Layne Ventures, it said in a statement on Tuesday, marking the end of an era for one of the big backers of the sport in Italy.

The deal values the club, relegated from Serie A last season, at about 45 million euros ($53 million) including debt, according to a source with knowledge of the matter.

The sale signals the Berlusconi family's retreat from soccer, following the death in 2023 of Silvio Berlusconi, the four-time Italian Prime Minister and media tycoon.

Silvio Berlusconi, who previously owned seven-time European champions AC Milan, took over Monza in 2018 when they were playing in Italy's third-tier in a deal reportedly worth just 3 million euros.

Led by former AC Milan executive Adriano Galliani, Monza, a city just north of Milan, secured their first Serie A promotion in 2022 but finished in last place last season.

That relegation forced Fininvest, the holding company of the Berlusconis, to write down the club's book value by 70% to 30 million euros.

Under the deal, Beckett Layne Ventures will acquire an 80% stake in the club, with Fininvest initially retaining a 20% holding before a full exit by June 2026.

Since Berlusconi took over the club, Monza have racked up losses of 270 million euros. In 2024 alone, the loss was 48 million euros.

Monza is the latest Italian soccer club sold to a U.S. investor. Top flight clubs Inter Milan, AC Milan, Roma, Parma, Fiorentina and Hellas Verona are all controlled by U.S. owners.

($1 = 0.8502 euros)

(Reporting by Elvira PollinaEditing by Keith Weir)