Milan closing update: the rossoneri's board of directors has been dissolved
Reporter Daniele Longo is at Milan’s Malpensa airport, where Yonghong Li has landed this morning, at around 7.20 local time.
22.00 THE MEETING IS OVER
The meeting is now over as Yonghong Li, Han Li and Fassone will meet again tomorrow. At this point, the closing is almost complete...
20.10 MILAN'S BOARD OF DIRECTORS IS DISSOLVED
As ANSA are reporting, Milan's board of directors have handed in their resignations as the rossoneri lawyers signed the necessary paper work. Everything will be complete by Friday and at that moment, Silvio Berlusconi alongside Barbara Berlusconi and Adriano Galliani will step down from their respective positions. Milan longtime lawyer Leonardo Cantamessa is the only one likely to stay on in the new CDA.
19.50 THE MEETING IS OVER
After 6 hours of talk in the Agostinelli firm, the meeting is now over. Han Li and Fassone have left as they were headed towards Yonghong Li's hotel for another meeting as they will have supper together.
13.50 A MEETING IS UNDERWAY
Han Li and Yonghong Li arrived at the "Gattai, Minoli, Agostinelli & partners" firm where a meeting has just begun.
13.15 AN AFTER-NOON MEETING
According to Calciomercato.com sources, David Han Li and Yonghong Li (alonside their assistants) are going to meet with Fassone and company in the Origoni & partners studio at 15H00 Italy time.
11.00 HAN LI ARRIVES
Han Li (alongside a few of his assistants) arrived at their hotel in Milan as they will soon meet with Yonghong Li.
10.30 THE PROGRAM
Yonghong Li is now resting. In the afternoon, Daniele Longo can confirm that the new president is set to meet lawyers Origoni & Partners.
If everything goes, well, and the funds arrive on time, the notary is set to host the two parties tomorrow to sign the deal, before everyone heads to Arcore to dine with Silvio Berlusconi.
The introductory press conference is set for Friday morning, and the new board is set to be voted in by the shareholder’s meeting that afternoon.
10.10 Yonghong Li is set to be followed by eleven people, including the CEO of the Haixia fund, Lu Bo, who is set to become one of the board members, alongside impresario Xu Renshuo.
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The Rossoneri were supposed to pass into Li’s hands back in the Autumn, only for the investor to fail to gather the finances.
After making two initial payments of €100 million each, the investor - who had encountered the Chinese government’s resistance against the exportation of capital - was assisted by the American Elliot Fund, which was happy to loan him the remaining €330m needed for the sale.
Right-hand man Han is already in Italy, having met with Marco Fassone and Alessandro Mirabelli yesterday. They are set to be the CEO and sporting director respectively. of the new Rossoneri.