NEWS
Saturday July 7 2018
Elliott to run Milan?

Yonghong Li missed the deadline and a legal battle could ensue, but it remains to be seen what hedge fund Elliott Management will do with Milan next.

The Chinese patron failed to pay the outstanding €32m, which Elliott had provided to increase the capital last month, and to all intents and purposes the American hedge fund now owns the Serie A giants.

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NEWS
Friday July 6 2018
Yonghong Li missed Milan deadline

The deadline has passed and Yonghong Li has not paid the €32m, so Elliott Management can begin repossessing Milan, but there is some hope for a sale.

According to multiple sources including financial newspaper Il Sole 24 Ore and La Stampa, Yonghong Li has missed the deadline of midnight Italian time to repay the €32m that US hedge fund Elliott used to raise the capital last month.

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NEWS
Friday July 6 2018
D-day for Yonghong Li

Milan owner Yonghong Li must repay €32m to Elliott Management today or cede control of the club to the U.S hedge fund.

The Chinese businessman didn’t pay the latest instalment in a capital increase last month, and the fund had to step in to cover the cost.

Today is the deadline for Li to repay that money or lose the club to Elliott, and it is expected that he’ll come up with the money.

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NEWS
Thursday July 5 2018
Li hangs on for new Milan buyers

Yonghong Li has 24 hours to pay back the €32m to Elliott Management, but it’s reported Rocco Commisso faces competition from a mystery Asian buyer for Milan.

The President is reaching the crunch moment for his status as owner of Milan.

On Friday evening, he has to repay the €32m that US hedge fund Elliott Management put forward to increase the capital after Li missed the deadline a couple of weeks ago.

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NEWS
Thursday July 5 2018
Elliott refuse Yonghong Li extension

Milan President Yonghong Li reportedly asked for an extension on the deadline to repay €32m, but Elliott Management refused.

Time is ticking down and the Chinese patron risks losing the club to US hedge fund Elliott Management Corporation this weekend.

According to MilanNews.it, Yonghong Li requested another 48 hours to find the €32m he must pay back tomorrow.

However, Elliott are done waiting and refused, trying to force him out of the club one way or another.

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NEWS
Wednesday July 4 2018
Yonghong Li back in Commisso talks

Yonghong Li is currently in New York for face to face negotiations to sell Milan to Rocco Commisso, according to Libero.

A reporter from the newspaper claims the club President is in the Big Apple with advisors White & Case to discuss terms.

Time is running out for Yonghong Li, as he has 48 hours to repay the €32m to Elliott Management Corporation, handed over last month to increase the capital when Li failed to meet his deadline.

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NEWS
Wednesday July 4 2018
Li wanted Milan clause

Yonghong Li’s difficulty in selling Milan is reportedly related to his insistence on a clause stipulating his shares won’t be diluted in the future.

The Chinese businessman has until Friday to repay Elliott Management for the €32m they lent the club for a capital increase, after the owner missed the payment.

New York Cosmos owner Rocco Commisso was looking to buy the club from him, but talks appear to have stalled, if not broken down completely.

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BLOG ITALIA
Tuesday July 3 2018
Milan fans turn on Yonghong Li

A year on from Silvio Berlusconi’s sale, Milan supporters finally realise Yonghong Li is not qualified to run the club, writes Matthew Santangelo.

A sense of relief filled each and every Milan supporter last summer as three-decade President Silvio Berlusconi finally relinquished the club to Yonghong Li, a name determined to invest significantly in the market and restore order to the Rossoneri regime by spending upward of €200m on nearly a dozen fresh faces.

One after the other, handshakes were shared between CEO Marco Fassone, sporting director Massimiliano Mirabelli and a new signing brought in to build a winner once again out of the seven-time Champions League victors.

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NEWS
Monday July 2 2018

Fassone: ‘EL about principle’

Milan CEO Marco Fassone admits being excluded from the Europa League won’t have a huge financial impact - “it’s almost more of a principle than anything else”.

The Rossoneri have been barred from this year’s competition for Financial Fair Play irregularities, but are appealing that to the Court of Arbitration for Sport.

“It's something that’s almost more of a principle than anything else,” Fassone explained in a Q&A with fans.

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NEWS
Saturday June 30 2018
Berlusconi made huge Milan profit

Silvio Berlusconi’s holding company Fininvest turned €120m losses into a profit of €687m by selling Milan.

The patron had held on to the club for 31 years, taking it from the brink of bankruptcy to the most successful side in the world.

However, with the costs of modern football and his political career taking up much of his time, the Rossoneri had become a drain on Berlusconi’s resources.

He finally sold the club to Yonghong Li in April 2017 for €740m and this has absolutely transformed Berlusconi’s financial outlook.

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