NEWS
Tuesday April 24 2018
Mirabelli at risk at Milan

It’s reported that Milan sporting director Massimiliano Mirabelli is in danger of being sacked, as Elliott Management are unhappy with his work.

The director arrived in April last year, and oversaw a €240m summer transfer campaign which included Leonardo Bonucci, Nikola Kalinic and Lucas Biglia.

This season’s minimum aim was Champions League qualification, but Saturday’s defeat to bottom club Benevento leaves them with no chance.

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NEWS
Thursday April 19 2018
Milan present Elliott guarantees

Milan will reportedly present UEFA with a guarantee that Elliott Management will support the club if Yonghong Li is unable to.

The Chinese businessman took over the Rossoneri in April last year, but he had to borrow money from U.S hedge fund Elliott to complete the deal.

Milan applied for a voluntary agreement on Financial Fair Play but it was rejected by UEFA, in part due to doubts about Li.

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Friday April 6 2018
Milan receive cash injection?

Milan have reportedly received a €11m cash injection to keep them going until the end of the season.

According to Corriere della Sera, the capital increase from Li Yonghong’s holding company was approved by Milan’s board on Thursday.

The Rossoneri have another €26m to repay by June 30 to offset their losses, and the newspaper notes Li is actively looking to refinance part of the club.

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NEWS
Tuesday April 3 2018
Milan waiting for Li money

Milan haven’t yet received the €10m sent by owner Yonghong Li last Tuesday, according to reports.

The businessman had pledged the capital increase to ensure the smooth running of the club until the end of the season, and last week it was reported that the money had been sent from China.

According to this morning’s Gazzetta dello Sport, the money was sent last Tuesday, but so far it hasn’t cleared with the bank.

No-one within the club doubts that the money will arrive, the newspaper reports, but there is a deadline of tomorrow.

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Tuesday March 27 2018
American takeover for Milan?

Reports in Italy claim Miami Dolphins owner Stephen M. Ross has asked for information about Milan’s situation.

The Rossoneri were taken over by Chinese businessman Yonghong Li last April, but he had to borrow over €300m from U.S hedge fund Elliott Management to complete the deal.

Holding company Rossoneri Sport Investment owes €180m, while the club itself has been saddled with €123m of debt.

If Li is unable to pay back the money by October Elliott can take over the club, so the owner is looking for a refinancing deal.

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Sunday March 25 2018
Gazzetta: Li money-laundering inquest?

La Gazzetta dello Sport claim there’s another investigation into Yonghong Li’s takeover of Milan, this time looking at money laundering.

The situation is increasingly fragile at the club, with a missed deadline to pay €10m – although Milan Channel today insist the cash is on its way – and the prospect of more loans from hedge fund Elliott Management to increase the capital in June.

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NEWS
Saturday March 24 2018
Milan shareholder sees Li exit

Milan shareholder Giuseppe La Scala believes owner Yonghong Li is “weak economically and financially, so should negotiate a less painful transition with Elliott.”

The situation is degenerating with multiple reports over the past few days that an investigation has been started into Li’s takeover from Silvio Berlusconi and a letter sent by the club demanding €10m missed its deadline.

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Saturday March 24 2018
Milan give Li until April 4

Milan are reportedly ready to wait until April 4 for Yonghong Li to provide the missing €10m before Elliott Management steps in.

The deadline was yesterday for the Chinese patron to pay the remaining €10m and increase the capital, but there was no sign of the money.

According to the Corriere della Sera, the club’s Board of Directors has decided to wait until April 4 to see if Yonghong Li is able to put together the cash or find a new bank bond.

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NEWS
Friday March 23 2018

Fassone seeks Milan investors

Milan CEO Marco Fassone is reportedly in London, as they seek to refinance their loan from Elliott Management.

The Rossoneri were bought by Chinese businessman Yonghong Li last April, but he needed loans from the U.S hedge fund to get the deal over the line.

Holding company Rossoneri Sport Investment owes €180m, while the club itself must pay back €123m by October, or Elliott can take over Li’s shares.

As a result, Milan’s directors have been looking to refinance their debt, with Merrill Lynch appointed to find new investors.

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Thursday March 22 2018
Usmanov interested in Milan

Russian billionaire Alisher Usmanov is reportedly interested in buying Milan, thanks to his relationship with Paul Singer of Elliott Management, but denied this link.

The Rossoneri are currently owned by Chinese businessman Yonghong Li, but numerous publications have expressed doubt about his finances.

Between them, the club and Li’s holding company Rossoneri Sport owe U.S hedge fund Elliott Management a total of €303m.

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