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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