A former President of UEFA’s Financial Fair Play committee sees “a very remote possibility” of Milan being excluded from European competition.
The Rossoneri’s proposal for a voluntary FFP settlement was rejected last week, so they’ll now have to accept some sanctions from European football’s governing body.
“It could be a fine between €5m and €10m, plus another €15m conditioned on results,” Umberto Lago, former interim President and vice-President of th
Investigation Chamber of the Club Financial Control Body told Gazzetta dello Sport.
“There could be transfer market restrictions, a salary cap and a restricted squad in Europe.
“Exclusion from Europe? That can’t be ruled out for anyone until a settlement has been reached, but in the case of Milan it seems like a very remote possibility.”
Lago was also asked about the reasons for UEFA rejecting the FFP agreement.
“It struck me that the Rossoneri were asked to refinance their debt before a decision was taken, not least because the timings were impossible to respect.
“Making it a non-negotiable part of the deal is close to making it impossible, but there was a solution.
“It could have been placed as a decisive condition: we’ll give you the voluntary agreement, and meanwhile prepare for a settlement agreement.
“If, by spring, you haven’t been able to refinance and haven’t met our conditions then we move to the settlement. It’s the same for guarantees, UEFA can ask for some but if they want all of them it becomes impractical.
“The way I saw it Milan’s plan could have passed, but in the takeover there were doubts on several subjects so maybe that factored into the decision.
“Yonghong Li? The guideline is to judge the business plan, not who is behind it. If the plan is credible, that should be enough.
“Not least because if the refinancing doesn’t go through, Milan won’t go bankrupt: it would pass to Elliott and business continuity would be maintained. The risk of a default is non-existent.
“Returning to Li, either we’re talking about all-out madness or he knows he can count on Chinese revenues by exploiting the brand.
“As I understand it, up to now he’s regularly made capital increases.
“Maybe UEFA were influenced by the very aggressive transfer campaign, which wasn’t viewed positively.
“But to return Milan to greatness you have to be daring.”
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