Saudi Arabian prince could buy AC Milan

08 July at 10:40
Serie A club AC Milan could reportedly be sold to Saudi price Al-Falasi as Yonghong Li has still not paid the hedge fund of 32 million euros to complete the capital increase of the rossoneri.

The Chinese owner was supposed to pay 32 million euros to the coffers of the rossoneri to keep hold of the club, but with Li now unable to do so, Elliot Fund have started the procedure of taking over 99.7 percent of the club's shares.

It is now a race against time for Li, who is looking for potential partners in the ownership. One of these potential partners is Saudi prince Al-Falasi, who could pay 415 million euros to the Elliot Fund and take over the rossoneri.

The name of an unnamed Russian magnate has come up, with Li currently in London with his right hand and is studying the possibilities of what to do with Marco Fassone.

The club's future could be decided by next week and Elliot Fund are faced with a dilemma themselves. They could either surrender the club to Li and his future partner or sell the club on an internation auction to the highest bidder.

For more transfer news and updates, click here.
Kaustubh Pandey(@Kaus_Pandey17)

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