NEWS
Wednesday June 27 2018
A history of Milan under Yonghong Li

From the very start, Yonghong Li’s takeover of Milan for €740m has been shrouded in controversy, confusion and very little clarity.

Chinese businessman Yonghong Li completed the takeover from Silvio Berlusconi on April 13 2017 for €740m, including €220m in existing club debt.

He had begun negotiations in August 2016, but was only able to secure the closing after numerous postponed deadlines thanks to a high-interest loan from US hedge fund Elliott Management Corporation of €303m.

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NEWS
Wednesday June 27 2018
‘Berlusconi not to blame for Milan’

Pier Silvio Berlusconi, son of former Milan owner Silvio, insists his family aren’t to blame for the club’s current situation.

The Rossoneri look set to be banned from Europe for a year and fined €30m, while Yonghong Li - to whom Berlusconi sold the club in April 2017 - appears to be struggling financially.

“I know very little,” Pier Silvio Berlusconi told AlaNews about the UEFA situation.

“More than a judgement I can express my displeasure as a Milan fan, but I can’t say more than that.

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NEWS
Wednesday June 27 2018
Milan informed of UEFA sentence?

It’s reported Milan have been told that their Financial Fair Play punishment will be a €30m fine and a one-year ban from European competition.

An official judgement from UEFA is expected this afternoon, but Premium Sport believes the Rossoneri have already been informed of their punishment.

They will be denied entry to this season’s Europa League, as well as being fined €30m for breaching FFP laws.

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NEWS
Tuesday June 26 2018
Report: Elliott behind Milan turnaround

With news Yonghong Li has changed the terms to scupper the takeover talks with Rocco Commisso, some suggest Elliott Management are behind the strategy.

This evening, Sky Sport Italia and Tuttosport both reported that negotiations had been on the verge of a deal for €500m plus coverage of the debt owed to Elliott Management (€380m due in October).

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NEWS
Tuesday June 26 2018
BREAKING: Milan sale is off

In a sudden and shocking turnaround, Yonghong Li has reportedly changed the terms with Rocco Commisso and wants to keep Milan.

The negotiations had been close to completion and a sale was expected on Wednesday for approximately €500m plus coverage of the €380m loan owed to Elliott Management, which allowed Li to buy the club in the first place.

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NEWS
Tuesday June 26 2018
Massive Wednesday for Milan

Milan are expected to receive their Financial Fair Play verdict from UEFA and see Rocco Commisso take over from Yonghong Li tomorrow.

The club was denied both a voluntary and settlement agreement due to irregularities in their FFP presentation and concerns over the stability of owner Yonghong Li.

According to financial newspaper Il Sole 24 Ore, the verdict will be handed down on Wednesday.

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NEWS
Tuesday June 26 2018
Commisso on verge for Milan

Sky Sport Italia claim Rocco Commisso could agree a Milan takeover tomorrow, with Yonghong Li retaining 15-20 per cent of the stocks.

The US billionaire and New York Cosmos owner has made an offer to buy the club for €500m plus a guarantee to cover the €380m debt to hedge fund Elliott Management.

He would not be buying up 100 per cent of the club, at least not initially, with Yonghong Li retaining 15-20 per cent.

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NEWS
Tuesday June 26 2018
Li given 48 hour deadline?

It’s reported Rocco Commisso has given a 48-hour deadline to accept his offer for Milan, but Yonghong Li is waiting for Thomas Ricketts.

The New York Cosmos owner has made an offer to buy the club, believed to be around €500m plus a guarantee to cover the debt to Elliott Management.

However, he has no interest in entering into a bidding war and both Gazzetta dello Sport and Il Sole 24 Ore warn he’s given a 48-hour deadline.

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BLOG ITALIA
Tuesday June 26 2018
Save Milan - again

A year later and Milan are right back where they started, if not in an even worse position, and Susy Campanale can't believe some didn't see it coming.

I wonder how far it will take some people to admit they got it wrong? Every warning about Yonghong Li and the many question marks around his takeover of Milan from Silvio Berlusconi was dismissed with anything from snide remarks to virulent abuse. How long can you keep your head buried in the sand before you suffocate?

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NEWS
Monday June 25 2018
Commisso pushes for Milan

Rocco Commisso is reportedly pushing to close a deal for Milan by the weekend, paying €500m for the club and covering the Elliott Management debt.

The owner of the NY Cosmos and the Mediacom cable and broadband company has emerged as the main contender to invest in the Rossoneri, but he wants full control of the club.

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