NEWS
Tuesday November 20 2018
Ceferin: ‘Milan? It’s being investigated’

UEFA President Aleksander Čeferin is asked how Yonghong Li could ever have been allowed to buy Milan - “we all knew there was a problem…”

The Chinese businessman bought the Rossoneri from Silvio Berlusconi in April 2017, but was forced out by Elliott Management just over a year later.

His time in charge saw reckless spending and ludicrous business plans, and Diavolo were initially thrown out of the Europa League for Financial Fair Play.

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NEWS
Tuesday November 20 2018
Fassone: Li wanted Ronaldo

Former Milan CEO Marco Fassone claims Li Yonghong wanted to sign Cristiano Ronaldo, ‘but I convinced him to give up the dream’.

Fassone and Li were ousted over the summer after a year that saw Milan fail to qualify for the Champions League, despite the pair overseeing a €200m recruitment drive, and post losses of €126m, while the Chinese ultimately defaulted on a €303m loan.

However, the ex-Juventus, Inter and Napoli director has now revealed that Li tried to take Ronaldo to San Siro a year before he joined the Old Lady.

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NEWS
Tuesday November 6 2018
CAS releases Milan motivations

The Court of Arbitration for Sport has released the motivations for granting Milan’s appeal against a Europa League ban, as well as the reasons for the initial ban.

The Rossoneri were barred from the competition by UEFA after Financial Fair Play breaches, having been denied both a voluntary agreement and a settlement agreement.

Much of that was due to doubts about owner Yonghong Li, but the CAS document lays out the scale of the mismanagement under the Chinese ownership.

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NEWS
Saturday October 20 2018
Austerity measures for Milan?

Milan could face a period of severe austerity measures to balance the books with Financial Fair Play after the Yonghong Li debacle.

The club had originally been excluded from the Europa League due to FFP failures, but after Yonghong Li defaulted on loan repayments and they were essentially repossessed by US hedge fund Elliott Management, they won an appeal with the Court of Arbitration for Sport to be let back in.

However, the situation is far from resolved and La Gazzetta dello Sport warn tough times are ahead for Rossoneri supporters.

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NEWS
Wednesday October 17 2018
Li banned from leaving China?

Former Milan owner Yonghong Li has reportedly had his passport revoked by Chinese authorities, after running up too many debts.

The businessman bought the Rossoneri from Silvio Berlusconi in April 2017, but the takeover was suspicious from the start.

His consortium missed several deadlines to pay the money to complete their purchase, and when they eventually did it was with a loan from U.S hedge fund Elliott Management.

This summer Li failed to wire money for a capital increase, and the fund seized control of the club.

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Tuesday October 16 2018
Marcotti: 'Milan believe in Elliott'

Gabriele Marcotti believes Milan fans have every reason to trust new owners Elliott Management, while it’s no surprise Lucas Paqueta preferred them to PSG.

The Italo-American pundit spoke to the Milan Weekly Podcast about some of the themes surrounding the Rossoneri, above all Elliott Management repossessing the club after Yonghong Li failed to keep up loan repayments.

His other comments on the Italy squad and Nations League campaign are here.

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NEWS
Monday October 15 2018
Mirabelli: ‘Confused by Li’

Former Milan sporting director Massimiliano Mirabelli admits Yonghong Li’s ownership “left us all surprised”.

The mysterious Chinese businessman took control of the Rossoneri in April 2017, and appointed Mirabelli as his sporting director.

The Italian was sacked when Elliott Management forced out Li, and it appears he was as confused as anyone by his time at San Siro.

“That’s everyone’s thought,” Mirabelli responded when asked about Li by 7Gold.

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NEWS
Monday October 15 2018
Fans bail out Milan

Milan’s loss of €126m under Yonghong Li would have been far worse, were it not for higher than expected attendances.

The Chinese businessman bought the Rossoneri from Silvio Berlusconi in April of 2017, but he was forced out by Elliott Management, who bankrolled the takeover, just over 12 months later.

Last week the scale of the mismanagement was made clear by a €126m loss, but analysis from Calcio e Finanza reveals things could have been far worse.

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Sunday October 14 2018
Suso: 'Milan calm after Chinese mess'

Suso is happy at Milan after the “mess of the Chinese takeover” was resigned to history. “Now there are people who know about football.”

The club was under Silvio Berlusconi’s control for over 30 years, but sold to Yonghong Li in April 2017 with the aid of massive loans from US hedge fund Elliott Management.

When Yonghong Li failed to keep up repayments, Milan were essentially repossessed by Elliott.

“Everything has calmed down after the mess of the Chinese takeover,” Suso told Spanish newspaper Marca.

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NEWS
Saturday October 13 2018
Maldini: 'Return to Milan principles'

Paolo Maldini explained how he came to take on a new job at Milan, as he and Leonardo “try to return to those principles” from their heyday.

The Rossoneri legend returned as a member of staff after US hedge fund Elliott Management repossessed the club from Yonghong Li.

He had been approached by the Chinese businessman first, but was immediately said he wasn’t convinced by the financial guarantees and project put forward.

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