Milan won’t know the name of their new President or formation of the Board of Directors until at least July 21, it was confirmed today.
There was a meeting at Casa Milan today and lawyer Roberto Cappelli spoke to reporters outside.
“We had a meeting, but in the absence of the Chinese counsellors, we did not have the necessary quorum to pass any votes.
“At that point, a Shareholders’ meeting was called for July 21. That assembly will aim to renew the Board of Directors and revoke some counsellors.”
Yonghong Li no longer owns the club, as he defaulted on his debts to US hedge fund Elliott Management and they repossessed the holding company he used to purchase Milan in April 2017.
Li has several representatives on the Board of Directors, but none of them were present today.
“There were only Italian counsellors, so no members of the new patrons either. We have no indications at the moment and will see at the next meeting.
“It would be opportune to have another Board meeting straight after the Shareholders’ meeting, to give back full power and everything necessary to those in charge.
“We don’t know who will be the President. We don’t know anything.”
This could cause some awkwardness, as Milan will present their appeal to the CAS (Court of Arbitration for Sport) on July 19 to have their exclusion from the Europa League reconsidered.
It's reported representatives from Elliott Management will state their case at the tribunal.
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