NEWS
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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BLOG ITALIA
Friday May 31 2019
Milan dragged into modernity

Rather than downsizing of ambitions, fans should see the Ivan Gazidis revamp as dragging Milan into becoming a modern football club, writes Richard Hall.

A new era is emerging for the Rossoneri and it doesn’t include Gennaro Gattuso or Leonardo. Milan CEO Ivan Gazidis has moved on behalf of Elliott Management to make sure the club operate with a new philosophy, even if it is based out of necessity. There will be no more big transfer fees, there will be a concerted effort to balance the books and there will be a focus on youth. Whilst this might be an unfortunate situation for the red and black half of the city, it could just perhaps be the making of them.

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NEWS
Wednesday February 27 2019
Galliani: 'Milan now with Milanisti'

Former Milan CEO Adriano Galliani maintains the club has “come back into the hands of Milanisti,” which was not the case under Yonghong Li.

Silvio Berlusconi controlled the club for 31 years with Galliani as his right-hand man, but sold it to Chinese investor Yonghong Li in April 2017.

When he defaulted on a loan used to buy the club, it was essentially repossessed by US hedge fund Elliott Management.

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NEWS
Sunday December 30 2018
Fassone suing Milan for €30m

Former Milan director Marco Fassone is reportedly suing the club for €30m in damages for unfair dismissal.

The ex-CEO has taken legal action against the Rossoneri and the matter is in the initial stages, but more details are beginning to emerge.

According to La Repubblica, Fassone’s lawyers are asking for €30m in various damages and missed earnings.

Fassone was the key figure in Yonghong Li’s failed administration, along with director of sport Massimiliano Mirabelli.

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NEWS
Sunday December 23 2018
Milan hired PI to follow reporters

Milan reportedly had journalists followed by a private detective, went through their employees’ devices and swept offices for bugs during the Yonghong Li administration.

According to La Repubblica, the final months of the Chinese patron’s tenure were characterised by paranoia over leaked information.

The situation is emerging now because former CEO Marco Fassone is suing Milan for unfair dismissal.

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NEWS
Tuesday December 4 2018
Mirabelli: 'CR7 and Auba at Milan'

Former Milan director Massimiliano Mirabelli reiterated he had a deal with Cristiano Ronaldo and Pierre-Emerick Aubameyang, while Yonghong Li’s exit was “absurd.”

The ex-director of sport under the Yonghong Li era, which ended with default on a loan and passage of the club to US hedge fund Elliott Management, spoke to TeleLombardia about his experiences.

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NEWS
Monday November 12 2018
Berlusconi: Lost election because of Li!

Silvio Berlusconi claims he lost last year’s Italian general election because of Li Yonghong. “2.5m Milan fans punished me.”

Berlusconi’s Forza Italia political party were overtaken by Lega Nord for the first time as the largest of Italy’s centre-right, but the 82-year-old blamed Li for his defeat, while asserting ‘I’ll be the only club President who has won so much’.

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NEWS
Saturday October 20 2018
Austerity measures for Milan?

Milan could face a period of severe austerity measures to balance the books with Financial Fair Play after the Yonghong Li debacle.

The club had originally been excluded from the Europa League due to FFP failures, but after Yonghong Li defaulted on loan repayments and they were essentially repossessed by US hedge fund Elliott Management, they won an appeal with the Court of Arbitration for Sport to be let back in.

However, the situation is far from resolved and La Gazzetta dello Sport warn tough times are ahead for Rossoneri supporters.

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NEWS
Wednesday October 17 2018
'Li lost €500m from Milan takeover'

Silvio Berlusconi’s brother was ‘stunned’ by Li Yonghong’s failed ownership of Milan, claiming the businessman ‘lost €500m’ from his takeover.

Li lost Milan to Elliott Management after he defaulted on a €303m loan, and Paolo Berlusconi sympathised with the Chinese, who ‘behaved very well’ during his initial talks with Silvio and was ‘abandoned’ by other members of his consortium.

“I was stunned, he behaved very well with us and paid everything he had to pay,” he told Top Calcio.

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