TeleLombardia claim that Genoa patron Enrico Preziosi is ready to buy up 20 per cent of Milan before becoming majority shareholder.
The club needs new investors after UEFA refused a settlement agreement and could still exclude the club from the Europa League.
Yonghong Li needs to pay back the loan to Elliott Management in October, which with interest is €380m.
According to TeleLombardia, Genoa President Preziosi is prepared to pay €150m to buy up 20 per cent of the Milan shares.
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