NEWS
Thursday May 21 2020
Fassone: 'Milan needed quality not quantity'

Former Milan director Marco Fassone admits to regrets over the Rossoneri experience with Yonghong Li. ‘We should’ve focused on quality more than quantity.’

He was CEO of the Rossoneri from April 2017 to July 2018, covering the period that Yonghong Li owned the club, but the President defaulted on a loan repayment and Elliott Management repossessed the side.

“Let’s just say that the experience could’ve ended differently,” Fassone told Calciomercato.com.

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Tuesday April 28 2020
Yonghong Li: 'Commisso offer an insult'

Former Milan President Yonghong Li has again criticised Elliott Management, won’t rule out a return and said Rocco Commisso’s takeover offer was “an insult.”

The Chinese businessman purchased AC Milan from Silvio Berlusconi in April 2017, but only did so thanks to a high-interest €303m loan from US hedge fund Elliott Management Corporation.

When Yonghong Li defaulted on the loan repayments, Elliott effectively repossessed the club as an asset in July 2018 and have been running the Serie A giants ever since.

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Friday February 21 2020
Mirabelli: 'We knew who was in charge at Milan'

Former Milan director of sport Massimiliano Mirabelli has lambasted the current Rossoneri regime, “when I was there, we knew who was in charge.”

Mirabelli was director of sport for Milan for just over a year, following Li Yonghong’s takeover of the club from Silvio Berlusconi in April 2017.

However Mirabelli was ousted from the club in the summer of 2018 when it was repossessed by Elliott Management group after Li Yonghong defaulted on a €300m loan to the American group.

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Monday January 13 2020
Lille: 'Elliott want to sell Milan'

Lille President Gerard Lopez claims Elliott Management intend to grow his club, whereas they “funded Milan to be bought” at a profit.

The US hedge fund is in control of Milan only because previous owner Yonghong Li defaulted on repayments on a €300m high-interest loan he had used to purchase the club from Silvio Berlusconi.

Elliott expanded their football investments by helping Lopez to fund Ligue 1 side Lille with another large loan of €140m.

However, the two approaches may well be different.

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NEWS
Friday January 10 2020
Li: 'Milan bankruptcy fake news!'

Former Milan owner Yonghong Li has hit back at Ivan Gazidis’ claim that Elliott Management saved the club from bankruptcy, calling it “fake news”.

The hedge fund seized control of the Rossoneri after the Chinese businessman defaulted on his €300m loan in the summer of 2018, before quickly fading back into obscurity.

However, he recently opened an official account on Twitter - which is banned in his homeland - to relay his side of the story to Milan fans.

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Wednesday January 8 2020
Han Li: 'Trust nobody at Milan'

Former Milan executive director David Han Li revealed what happened behind the scenes with Yonghong Li and Elliott Management. “The nightmare was real. We don’t trust anyone now.”

The entire affair caused immense confusion, as after purchasing the club from Silvio Berlusconi in May 2017 only to effectively have their holding company repossessed for failing to meet payments on a loan to hedge fund Elliott Management.

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Wednesday November 20 2019
Yonghong Li breaks Milan silence?

Former Milan President Yonghong Li has seemingly broken his silence with an extraordinary offer to “help” the club. “I'm so sad at the way things are going now.”

A Twitter account purporting to be from the Chinese businessman appeared today with a series of messages telling his side of the story.

He purchased AC Milan from Silvio Berlusconi in April 2017 with the aid of a €330m loan from Elliott Management Corporation, but defaulted on repayments and the club was essentially repossessed in July 2018.

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Friday October 11 2019
Milan: Li under investigation

Former Milan owner Li Yonghong is being investigated by Chinese authorities for giving false information about his financial situation.

Li bought Milan in the summer of 2017 from Silvio Berlusconi but was ousted from the club just a year later after he defaulted on a €303m loan, with which he financed his takeover.

The businessman continues to cut a shady figure, and ANSA reports contact has been made between prosecutors in Milan and judicial authorities in China.

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Thursday August 1 2019
Fassone: 'Yonghong underestimated Milan'

Former Milan CEO Marco Fassone insists Yonghong Li “underestimated the task of repaying the loan, but the final balance was ultimately positive.”

Fassone was placed in charge when Chinese businessman Yonghong Li purchased the club from Silvio Berlusconi for €740m, ending a 30-year reign, and continued to reassure fans that there were no financial problems.

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NEWS
Friday June 7 2019
Commisso unveils Fiorentina plan

Rocco Commisso unveiled himself as Fiorentina’s new owner on Friday, with a few choice words for Milan, Federico Chiesa and the Press.

Commisso takes over from the much-criticised Della Valle family, and journalists quickly warmed to the Italo-American’s quirky personality, which saw him regularly switch between his mother tongue and English.

“Good day to everyone and good day to the Press,” he began.

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