NEWS
Wednesday April 12 2017
Chinese arrive for Milan completion

Yonghong Li has been photographed arriving at Milan Malpensa airport in order to complete the takeover of Milan tomorrow.

Gazzetta dello Sport reports that the broker must now pay €190m to complete the deal, a sum in addition to the €250m already deposited, with a final €180m now guaranteed by the American Elliott.

The money is said to be in Luxembourg and will be deposited into the Fininvest accounts tomorrow morning, in order that the takeover be finally completed.

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NEWS
Tuesday April 11 2017
New Milan chiefs meet

The new Milan is forming at last, as today Marco Fassone, Han Li, Massimiliano Mirabelli and Yonghong Li's lawyers met and will be at Juventus-Barcelona tonight.

The long-awaited closing of the takeover has been postponed repeatedly and the structure of the investors changed several times.

With the closing set for Thursday and the Derby della Madonnina with Inter on Thursday April 13, several key figures are congregating in Italy to finalise the details.

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NEWS
Monday April 10 2017
Lippi: ‘No-one knows Milan owners’

Marcello Lippi discusses Milan’s expected new owners - “no-one in China knows who these people are”.

The World Cup-winner is currently in charge of the Chinese national team, and with Yonghong Li expected to compete his takeover of the Rossoneri this week, the Coach was asked about the sale.

“We should once and for all end this saga about the sale of the club,” Lippi told SportItalia.

“No-one in China knows who these people are, while obviously the Suning Group which bought Inter is very well known.”

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Monday April 10 2017
Han Li meets Fininvest

It’s reported Han Li of Rossoneri Sport Luxembourg met Fininvest today, ahead of their takeover of Milan on Thursday.

A consortium led by Yonghong Li appears to finally be on the verge of buying the club from Silvio Berlusconi, after a series of delays.

The closing is scheduled for Thursday, and Sky reports that executive director of Rossoneri Sport, Han Li, met with Fininvest executives today.

The rest of the Chinese delegation are expected to arrive on Wednesday, indicating that the takeover is finally nearing completion.

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Wednesday April 5 2017
Berlusconi: ‘Closing on schedule’

Milan President Silvio Berlusconi confirms the sale of the club is still set for “April 13, 14”.

After a series of delays, it appears the Rossoneri are finally to be sold to Yonghong Li, formerly of Sino-Europe Sports, before the Easter derby with Inter.

Given the number of hitches there have been in the deal so far, Diavolo supporters are looking for reassurance that the deal will go though, and the patron offered a brief update on a visit to Salone del Mobile di Milano.

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NEWS
Friday March 31 2017
Milan closing moved forward?

Reports suggest the sale of Milan could be moved forward a day, to Thursday April 13.

After a series of delays, Li Yonghong’s takeover of the Rossoneri appears to finally be reaching a conclusion, following investment from an American hedge fund.

A shareholders’ meeting has been called to officially ratify the sale on April 14, but this is a formality as holding company Fininvest controls 99.93 per cent of shares.

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Thursday March 30 2017
Hedge fund on Milan board?

It’s reported that US hedge fund Elliott Management will have someone on the Milan board of directors, as they are financing the takeover.

The closing is set for April 14, as Yonghong Li announced the financing was complete with the aid of a huge loan worth €303m from Elliott.

As part of the deal, news agency Ansa and La Repubblica report that Elliott will have a representative on the new board of directors.

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Tuesday March 28 2017
US hedge fund in Milan deal

Reports in the USA say an American hedge fund is providing €253m of the money needed to buy Milan.

Silvio Berlusconi had agreed to sell the club to Chinese consortium Sino-Europe Sports, but founder Li Yonghong dissolved the group.

Instead, a new group called Rossoneri Sport Lux was set-up to complete the deal, in part because of the difficulty of moving money out of China.

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Tuesday March 28 2017
Bank to verify Milan funds

Documents have reportedly been passed to the Bank of Italy to verify the origin of the funds being used in the takeover of Milan.

Two deposits of €100m have already been paid by Sino-Europe Sports, but Yonghong Li shut down the consortium over the weekend and will proceed instead with Rossoneri Sport Investment Lux.

Fininvest have confirmed that the closing is now set for April 14, and La Repubblica reports that investigations are taking place into the first two deposits.

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Monday March 27 2017
Milan board ratifies takeover meeting

Milan’s board of directors have ratified an associates’ meeting on April 14, which will confirm the club’s takeover.

Sky Sport Italia and Tuttomercatoweb report the approval was given by the board at a meeting was held on Monday at Casa Milan, the Rossoneri’s headquarters.

The first associates’ assembly has been scheduled for April 14, before a second on May 4.

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