Yonghong Li is negotiating with multiple potential investors for Milan, it’s reported, and could soon become a minority shareholder.
According to financial newspaper Il Sole 24 Ore, the plan has changed with the Financial Fair Play settlement refused and October’s deadline to repay the Elliott Management loan edging closer.
The idea now is to find an investor who can immediately put in the €32m needed to increase the capital over the next couple of weeks, then slowly sell up his majority shares.
Yonghong Li would eventually become similar to Erick Thohir at Inter, a minority figure with no real decision-making capabilities.
In fact, he’d only retain the rights to Milan business on the Chinese market, which has been nowhere near as lucrative as first thought.
Il Sole 24 Ore point towards an American investor ready to take over, represented by advisors Goldman Sachs in recent meetings with paperwork filed today.
Sky Sport Italia instead suggest there are multiple different negotiations taking place with several potential investors and Yonghong Li will eventually choose the one offering the best terms.
This includes a figure from Malaysia, who lives in Singapore and whose name remains secret, with Arabian and American options too.