Marco Fassone assures the new owners want “a strong Milan”, and will sign “experienced and quality players” in the summer.
Yonghong Li’s Rossoneri Sport Investment Luxembourg consortium has completed a takeover of the Rossoneri, but there has been concern over the involvement of a U.S hedge fund.
The club has issued a €123m bond in Vienna, and the new CEO looked to clarify the situation.
Reports suggest Milan will issue a €123m bond, underwritten by the US hedge fund which bankrolled the takeover of the club.
Yonghong Li and his Rossoneri Sport Investment Lux group completed their purchase of the club from Silvio Berlusconi earlier this month.
Now financial website il Sole 24 Ore reveals that a €123m bond will be issued by the club in Vienna, underwritten by Elliott.
Of that figure, €73m will go toward repaying Italian debts to Italian banks including BancoBpm, Intesa Sanpaolo, Unicredit, Cariparma and others.
New Milan owner Yonghong Li thanks Silvio Berlusconi after completing the takeover and promises “we’ll lead this legendary team back to the top”.
Rossoneri Sport Investment Lux finally completed their purchase of the club from Berlusconi’s holding company Fininvest today, paying a total of €830m.
“I thank Berlusconi and Fininvest for their trust and Rossoneri fans all over the world for their patience,” the new owner told sports.163.com.
The takeover of Milan has officially been completed, with Silvio Berlusconi selling the club after 31 years.
A consortium led by Chinese businessman Yonghong Li has been attempting to buy the Rossoneri for some time, but the deal was hit by a series of delays.
However, after Sino-Europe Sports became Rossoneri Sport Luxembourg and received investment from an American hedge fund, a meeting was held this morning to ratify the sale.
Marcello Lippi discusses Milan’s expected new owners - “no-one in China knows who these people are”.
The World Cup-winner is currently in charge of the Chinese national team, and with Yonghong Li expected to compete his takeover of the Rossoneri this week, the Coach was asked about the sale.
“We should once and for all end this saga about the sale of the club,” Lippi told SportItalia.
“No-one in China knows who these people are, while obviously the Suning Group which bought Inter is very well known.”
It’s reported Han Li of Rossoneri Sport Luxembourg met Fininvest today, ahead of their takeover of Milan on Thursday.
A consortium led by Yonghong Li appears to finally be on the verge of buying the club from Silvio Berlusconi, after a series of delays.
The closing is scheduled for Thursday, and Sky reports that executive director of Rossoneri Sport, Han Li, met with Fininvest executives today.
The rest of the Chinese delegation are expected to arrive on Wednesday, indicating that the takeover is finally nearing completion.
Reports suggest the sale of Milan could be moved forward a day, to Thursday April 13.
After a series of delays, Li Yonghong’s takeover of the Rossoneri appears to finally be reaching a conclusion, following investment from an American hedge fund.
A shareholders’ meeting has been called to officially ratify the sale on April 14, but this is a formality as holding company Fininvest controls 99.93 per cent of shares.
Documents have reportedly been passed to the Bank of Italy to verify the origin of the funds being used in the takeover of Milan.
Two deposits of €100m have already been paid by Sino-Europe Sports, but Yonghong Li shut down the consortium over the weekend and will proceed instead with Rossoneri Sport Investment Lux.
Fininvest have confirmed that the closing is now set for April 14, and La Repubblica reports that investigations are taking place into the first two deposits.
Milan’s board of directors have ratified an associates’ meeting on April 14, which will confirm the club’s takeover.
Sky Sport Italia and Tuttomercatoweb report the approval was given by the board at a meeting was held on Monday at Casa Milan, the Rossoneri’s headquarters.
The first associates’ assembly has been scheduled for April 14, before a second on May 4.
The Milan “funding is complete” and the takeover closing is set for April 14, confirmed a statement from Silvio Berlusconi’s Fininvest company.
Yonghong Li shut down Sino-Europe Sports today and instead poured all the funds into a new holding company, Rossoneri Sport Investment Lux, based in Luxembourg.
