NEWS
Monday February 19 2018
Galliani: 'Yonghong Li funds checked'

Former Milan CEO Adriano Galliani believes Yonghong Li provided “all the necessary credentials” to prove his financial stability.

There have always been questions around the Chinese investor’s €740m take-over of the club, completed in April 2017, with investigations published by the New York Times and Il Sole 24 Ore.

Today the Corriere della Sera goes so far as to suggest Yonghong Li was already facing bankruptcy proceedings before buying the club.

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NEWS
Monday February 19 2018
Report: Milan owner bankrupt

The Corriere della Sera newspaper claims Milan owner Yonghong Li is insolvent and his assets will be auctioned off on Taobao (the Chinese version of eBay).

This is certainly not the first time questions have been raised on the financial status of the businessman, as the New York Times and financial paper Il Sole 24 Ore also ran investigations pointing to a lack of funds.

However, this latest report suggests the situation has precipitated to the point where Yonghong Li is essentially bankrupt.

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NEWS
Thursday February 15 2018
Milan work for refinancing deal

It’s reported Milan are working on a €250m refinancing deal with Elliott Management, separating Yonghong Li’s debt.

The Chinese owner got a €123m loan from Elliott, an American hedge fund, to take over the Rossoneri and that must be repaid by October.

As a result the Diavolo have been looking to take out another loan to repay the hedge fund, but the unclear status of Li has made it difficult to find a lender.

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NEWS
Sunday February 4 2018
Berlusconi: 'No chance of Milan return'

Silvio Berlusconi is critical of Milan owner Yonghong Li, but reiterates there is “no chance” he could take over the club again.

Berlusconi sold the Rossoneri after 31 years at the helm, with Chinese investors represented by directors Massimiliano Mirabelli and Marco Fassone in Italy.

“Yonghong Li ought to have a substitute here in Italy,” Berlusconi told TeleLombardia.

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NEWS
Friday January 26 2018
Maldini: 'Not promising for Milan'

Milan legend Paolo Maldini warns “it doesn’t look very promising” for the club’s return to greatness under Yonghong Li.

Much was expected of the Chinese takeover when replacing Silvio Berlusconi after 30 years at the helm, but despite spending over €200m on the market this summer, their results have not improved.

“I have absolutely no idea when Milan will become great again, but it doesn’t look very promising with this new project for now, so unfortunately we’ll be waiting a long time,” Maldini told Radio 24.

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BLOG ITALIA
Thursday January 18 2018
More Milan lows than highs

Evaluating Milan's season so far, it's easier to pick out the lowlights than the few high points, writes Richard Hall, but Patrick Cutrone was a beacon of hope.

Milan would have welcomed the winter break more than most, after promise turned into disappointment almost from day one. In the early summer, 60,000 turned up to watch the new and most thought improved Milan squad qualify for the Europa League via two preliminary rounds. The enthusiasm would start to drain as results worsened and the players failed to perform. Now on their second Coach of the season, they will be hoping for a better 2018.

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NEWS
Wednesday January 17 2018
Elliott 'would sell Milan at auction'

If Yonghong Li doesn’t pay back his debt to Elliott Management, they will put Milan up for sale “to the highest bidder,” confirmed a representative.

The Serie A club takeover from Silvio Berlusconi was only completed thanks to a €303m loan from American hedge fund Elliott Management in April 2017, which has to be repaid in October.

Today TeleLombardia had an interview with Paolo Scaroni, a member of the Milan Board of Directors who represents Elliott’s interests and is the Vice-President of Rothschild.

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NEWS
Tuesday January 16 2018
Li: ’Milan rumours unfounded’

Milan owner Yonghong Li categorically rejects allegations of money laundering, and reserves the right to “take all necessary legal actions”.

It has been reported in recent days, notably by La Stampa and Il Secolo XIX, that the purchase of the club from Silvio Berlusconi was used to launder money.

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NEWS
Tuesday January 16 2018
Prosecutors receive Milan file

Rumours continue to swirl that Milan’s takeover is being investigated, with a report passed to the public prosecutor.

It was reported over the weekend that former owner Silvio Berlusconi was being investigated for money laundering, having sold the Rossoneri to Yonghong Li’s consortium last April.

The chief prosecutor denied that an investigation had been opened, while Berlusconi called the allegations ridiculous.

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NEWS
Sunday January 14 2018
Berlusconi: 'Milan kept promises'

Silvio Berlusconi laughed off reports of a money-laundering investigation and assured Yonghong Li “kept all his promises” after the Milan takeover.

There were reports in the Secolo XIX and La Stampa newspaper that the authorities felt the club was sold for €300m more than its actual worth.

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