Calciomercato.com

Exclusive: Elliott doesn't convince UEFA, why Milan could get a severe punishment

Exclusive: Elliott doesn't convince UEFA, why Milan could get a severe punishment

AC Milan are experiencing great concern as UEFA's decision to call them to the CFBC chamber could have a heavy impact on their future. 
 
The trial will take place in the middle of June and the five judges involved will decide the sanctions that the Rossoneri will receive, having rejected a settlement agreement. In the event of a heavy punishment for Milan, then the club would have the opportunity to appeal to a higher instance. 

As Marco Fassone suggested yesterday, after consulting with his own lawyers, there is a will to appeal UEFA's decision. However, Yonghong Li's debt is very much affecting the matter. The American hedge fund, Elliott, provided Milan's owner with a loan of €303, which has to be paid back by October.
 
Yonghong Li has been looking for several banks that could grant him a new loan worth more than €400m to repay the debts, to avoid Elliott taking control over the club. Fassone has already identified 2-3 solutions, although they haven't been accepted by the president. yesterday's happening could perhaps change Yonghong Li's understanding of the situation. 
 
Elliott even provided a document to Fassone (which he submitted to UEFA), stating that the hedge fund was willing to take over the management of the club by granting a further €35m loan, but UEFA didn't think that this was enough. UEFA believe that the fund has the sole interest to return the investment made and come out with a profit, which doesn't make Elliott a "stable and lasting" security for the Rossoneri.