NEWS
Saturday July 14 2018
Milan ultras: 'No to Leonardo'

Milan ultras released a statement urging Elliott Management to stick with Gennaro Gattuso and Massimiliano Mirabelli, but not hire Leonardo.

The club is in turmoil after President Yonghong Li defaulted on his debts, so US hedge fund Elliott Management repossessed his assets.

It’s believed they will put in a new Board of Directors on July 21, which could include former Coach and player Leonardo.

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BLOG ITALIA
Saturday July 14 2018
Rebuilding Milan's image

After Yonghong Li failed to repay his loan, Elliott have seized control and are working towards rebuilding Milan’s image, writes Matthew Santangelo.

Throughout the course of this ownership dilemma, Milan’s brand has taken quite a hit. The value of the Rossoneri image still remains tremendously high around the world, but the struggles during the past five to six years on the pitch, along with uncertainty at the top, calls for financial stability and total transparency under Elliott Management.

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NEWS
Friday July 13 2018
Bonucci agent checks into Milan

The agent of Leonardo Bonucci, Suso and Andrea Bertolacci and ex-Fiorentina man Milan Badelj has reportedly arrived at Milan’s training ground for talks.

According to Sky Sport Italia, Lucci checked into Milanello on Friday afternoon, where he was greeted by Milan CEO Marco Fassone and sporting director Massimiliano Mirabelli.

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NEWS
Thursday July 12 2018
Leonardo role in the new Milan?

Milan’s new owners Elliott Management have reportedly contacted former player, director and Coach Leonardo after Paolo Maldini turned them down.

US hedge fund Elliott now effectively run the club after President Yonghong Li defaulted on his debts, but a new Board of Directors will only be voted in after July 21.

According to Sky Sport Italia, the new patrons have approached Leonardo to ask if he would be interested in a new role.

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NEWS
Thursday July 12 2018
Milan board meeting today

The Milan board is expected to meet this afternoon to officially appoint new directors and oust Yonghong Li and the Chinese.

The club has been taken over by Elliott Management, after the owner failed to pay his debts to the hedge fund.

The American fund will now try to put the club on a more solid financial footing before selling it on, and today at 16.30 local time there is expected to be a board meeting.

According to ANSA, the new President will be Paolo Scaroni, the former CEO of Italian energy company Eni.

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NEWS
Tuesday July 10 2018
Milan punished for 'unrealistic' plans

The full 33-page document on why Milan were excluded from Europe for Financial Fair Play violations points to an unrealistic business plan.

The Rossoneri had originally tried to work out a Voluntary Agreement with UEFA after Yonghong Li bought the club from Silvio Berlusconi for €740m in April 2017.

When that was rejected in December, they were stunned to find out the Settlement Agreement was also turned down, eventually leading UEFA to exclude them from Europe for the 2018-19 season.

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NEWS
Sunday July 8 2018
Jorge Mendes involved in Milan?

Agent Jorge Mendes is reportedly involved in a Milan takeover bid, though it remains to be seen if he’s talking to Yonghong Li or Elliott Management.

The club is in a state of chaos, as Yonghong Li missed deadlines for €32m in increased capital, then to pay it back once hedge fund Elliott had loaned it.

Now Elliott are set to begin repossessing his assets, starting from the holding company for the Serie A club in Luxembourg, on Monday.

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NEWS
Saturday July 7 2018
What next for Milan?

With Elliott Management ready to take over from Yonghong Li, speculation is rife over what comes next for Milan.

The President failed to meet yet another deadline, this time to repay the €32m that he had already missed last month for the increase in capital.

As he now owes Elliott Management Corporation €425m, the American hedge fund can begin the process of repossessing his assets.

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BLOG ITALIA
Tuesday July 3 2018
Milan fans turn on Yonghong Li

A year on from Silvio Berlusconi’s sale, Milan supporters finally realise Yonghong Li is not qualified to run the club, writes Matthew Santangelo.

A sense of relief filled each and every Milan supporter last summer as three-decade President Silvio Berlusconi finally relinquished the club to Yonghong Li, a name determined to invest significantly in the market and restore order to the Rossoneri regime by spending upward of €200m on nearly a dozen fresh faces.

One after the other, handshakes were shared between CEO Marco Fassone, sporting director Massimiliano Mirabelli and a new signing brought in to build a winner once again out of the seven-time Champions League victors.

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NEWS
Monday July 2 2018

Fassone: ‘EL about principle’

Milan CEO Marco Fassone admits being excluded from the Europa League won’t have a huge financial impact - “it’s almost more of a principle than anything else”.

The Rossoneri have been barred from this year’s competition for Financial Fair Play irregularities, but are appealing that to the Court of Arbitration for Sport.

“It's something that’s almost more of a principle than anything else,” Fassone explained in a Q&A with fans.

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