NEWS
Wednesday June 10 2020
Li: 'Scaroni backstabbed me'

Former Milan owner Yonghong Li has hit out at Paolo Scaroni, alleging a conflict of interest on the part of the club’s current President.

Li owned Milan during the 2017-18 campaign with Scaroni a member of his board at the time.

However, he was ultimately replaced as President by the 73-year-old, with Elliott Management gaining control of the Rossoneri after the Chinese businessman defaulted on a loan lent to him by the hedge fund.

“It was an exasperating time,” he told Forbes.

“Mr. Scaroni was cordial, well-spoken and seemed to know everyone in Italy, particularly Milan.

“At the time we trusted him, he was our board member, and now he’s President.

“And like us, I’m not sure Rothschild was fully aware of what Scaroni was up to behind-the-scenes and if he used any inside information for his own benefit, or for the benefit of Elliott.

“Looking back, it is impossible to ignore Mr. Scaroni’s role in all of this. The conflict of interest could not be more apparent to us.”

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