NEWS
Thursday April 19 2018
Milan present Elliott guarantees

Milan will reportedly present UEFA with a guarantee that Elliott Management will support the club if Yonghong Li is unable to.

The Chinese businessman took over the Rossoneri in April last year, but he had to borrow money from U.S hedge fund Elliott to complete the deal.

Milan applied for a voluntary agreement on Financial Fair Play but it was rejected by UEFA, in part due to doubts about Li.

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Friday April 13 2018
Fassone: Milan finances ‘very good’

Marco Fassone insists Milan’s finances are ‘very good’ and explains owner Li Yonghong has ‘three options’ to refinance the club.

Fassone’s remarks follow reports that one of Li’s companies were declared bankrupt, just six months before Milan were due to repay a €303m loan to hedge fund Elliott Management.

“Milan are very good from a financial and economic point of view,” the CEO told Gazzetta dello Sport.

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Thursday April 12 2018
Yonghong Li: 'Committed to Milan'

Yonghong Li sent an open letter to Milan fans on the one-year anniversary of his takeover. “We are fully committed in this project for AC Milan’s growth.”

The Chinese businessman completed the purchase from Silvio Berlusconi in April 2017, ending a 30-year era.

“Dear AC Milan fans,

“I’m very excited to say that today we are celebrating our first-year anniversary with the Club,” wrote President Yonghong Li on the official Milan website.

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NEWS
Tuesday April 3 2018
Milan postpone capital increase

Milan released a statement confirming the increase in capital has been postponed to April 13 after Yonghong Li missed the first deadline.

The €10m from China was meant to arrive by tomorrow morning, at 17.00 Italian time (15.00 GMT) on Wednesday April 4.

Amid reports the funds had still not been transferred this evening, the club released a statement to its shareholders.

It confirms the increase in capital has been postponed until 17.00 Italian time on April 13.

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NEWS
Tuesday April 3 2018
Milan waiting for Li money

Milan haven’t yet received the €10m sent by owner Yonghong Li last Tuesday, according to reports.

The businessman had pledged the capital increase to ensure the smooth running of the club until the end of the season, and last week it was reported that the money had been sent from China.

According to this morning’s Gazzetta dello Sport, the money was sent last Tuesday, but so far it hasn’t cleared with the bank.

No-one within the club doubts that the money will arrive, the newspaper reports, but there is a deadline of tomorrow.

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NEWS
Tuesday March 27 2018
Milan get Li money today?

It’s reported that Milan will receive the €10m capital increase promised by Yonghong Li later today.

The money was due to be paid on Friday but it never arrived, so the owner was given until April 4 to provide the capital.

Now MilanNews is reporting that there is optimism at Casa Milan that the cash injection will arrive later today.

A further €27.4m must be paid by June 30, in whatever form the board of directors deems most appropriate.

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Tuesday March 27 2018
American takeover for Milan?

Reports in Italy claim Miami Dolphins owner Stephen M. Ross has asked for information about Milan’s situation.

The Rossoneri were taken over by Chinese businessman Yonghong Li last April, but he had to borrow over €300m from U.S hedge fund Elliott Management to complete the deal.

Holding company Rossoneri Sport Investment owes €180m, while the club itself has been saddled with €123m of debt.

If Li is unable to pay back the money by October Elliott can take over the club, so the owner is looking for a refinancing deal.

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Sunday March 25 2018
Gazzetta: Li money-laundering inquest?

La Gazzetta dello Sport claim there’s another investigation into Yonghong Li’s takeover of Milan, this time looking at money laundering.

The situation is increasingly fragile at the club, with a missed deadline to pay €10m – although Milan Channel today insist the cash is on its way – and the prospect of more loans from hedge fund Elliott Management to increase the capital in June.

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Saturday March 24 2018
Milan shareholder sees Li exit

Milan shareholder Giuseppe La Scala believes owner Yonghong Li is “weak economically and financially, so should negotiate a less painful transition with Elliott.”

The situation is degenerating with multiple reports over the past few days that an investigation has been started into Li’s takeover from Silvio Berlusconi and a letter sent by the club demanding €10m missed its deadline.

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Saturday March 24 2018
Milan give Li until April 4

Milan are reportedly ready to wait until April 4 for Yonghong Li to provide the missing €10m before Elliott Management steps in.

The deadline was yesterday for the Chinese patron to pay the remaining €10m and increase the capital, but there was no sign of the money.

According to the Corriere della Sera, the club’s Board of Directors has decided to wait until April 4 to see if Yonghong Li is able to put together the cash or find a new bank bond.

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