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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NEWS
Friday June 29 2018
Li remains at 30 per cent?

Yonghong Li is reportedly close to accepting Rocco Commisso’s offer for Milan, as long as he keeps at least 30 per cent of the shares.

The Chinese owner is struggling after his April 2017 takeover, and hedge fund Elliott Management had to provide the €32m for this month’s capital increase.

While it’s thought Li has now come up with the money to repay that, it’s accepted that the club needs new investors.

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NEWS
Thursday June 28 2018
UEFA questioned Milan 'credibility'

UEFA’s reasoning for excluding Milan for Europe repeatedly used the term ‘credibility’ with regards to Yonghong Li, according to a leaked report.

The Rossoneri were punished for violating Financial Fair Play parameters and consequently excluded from the Europa League for the 2018-19 season.

Their full reasoning will only be released later, but according to La Gazzetta dello Sport, it includes a 30-page document outlining the issues UEFA had with their FFP business plan.

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NEWS
Thursday June 28 2018
Li to lose €300m on Milan sale?

Reuters claim Rocco Commisso is offering €500m to buy Milan, but this would leave Yonghong Li with a €300m loss, as it includes debt.

The Chinese businessman bought the club from Silvio Berlusconi in April 2017 for €740m, including their €190m debt, and was only able to complete the takeover thanks to a €303m loan from US hedge fund Elliott Management.

That loan is due to be repaid in full with €77m interest in October 2018.

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NEWS
Thursday June 28 2018
Milan shareholders want Li sale

The Association of Milan Small Shareholders have sent a strongly-worded letter urging Yonghong Li to “unequivocally prove his financial stability or step aside.”

President Yonghong Li has been increasingly under fire, especially after missing the deadline to pay €32m to raise the capital, so US hedge fund Elliott Management – to whom Li owes €380m in October – had to step in.

He has until July 6 to repay it or Elliott will effectively begin to repossess his assets – specifically AC Milan.

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NEWS
Thursday June 28 2018
Commisso back in for Milan

Yonghong Li has seemingly realised Rocco Commisso’s offer to buy Milan is his best option and is back in advanced negotiations, it’s reported.

US billionaire Commisso had been close to a deal for €500m plus payment of the debt to Elliott Management, leaving 15-20 per cent of the club to Yonghong Li.

Suddenly on Tuesday night, the whole affair seemed to be off, as the Chinese patron wanted to keep 30 per cent of the club and find the €32m owed to Elliott Management by July 6.

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NEWS
Thursday June 28 2018
Commisso could fly to Italy

Rocco Commisso could fly out to Italy to try and revive his takeover of Milan, according to reports.

The New York Cosmos owner is interested in buying the club from Yonghong Li, but the Chinese businessman only wants to sell a minority stake.

It was feared that a deal had collapsed, but Commisso hinted yesterday he was open to a deal, if only “on my terms”.

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