NEWS
Thursday May 31 2018
Li owes €10m by Monday

It’s reported Milan owner Yonghong Li must provide €10m for a capital increase by Monday, or risk losing the club.

The Chinese businessman has pledged €60m to the club to help with running costs, but the previous payment was late.

U.S hedge fund Elliott Management provided both the club and the owner with the capital to complete the takeover, and can take over if they aren’t repaid by October.

Now though Il Sole 24 Ore is reporting that could come much sooner than expected, with the fund ready to step in if Li doesn’t provide €10m by Monday.

The website believes he has raised around €5m, but if he doesn’t provide the full amount Elliott could either bypass him and give the club a new loan, or take it over early.

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