The final countdown – Yonghong Li must pay €32 million today or lose Milan

06 July at 11:10
The future of AC Milan will be decided today – it hangs in the balance with the potential payment of owner Yonghong Li.
Li borrowed €32 million from Paul Singer’s hedge-fund, to pay off what was needed as capital increase to avoid further punishment from UEFA. The Gazzetta dello Sport is reporting that in the event that Li fails to pay Elliott the money owed, the ownership of Milan will soon be changing.
According to what has been learned by, Yonghong Li will find the money to return to Singer’s fund, effectively keeping control of the Milan-based club. He will then reportedly proceed to sell the club to the highest bidder; whilst aiming to possibly keep hold of a percentage of it.
The Corriere della Sera is reporting that Yonghong Li is negotiating with a new Eastern trading partner, blocking communications with Rocco Commisso.
If the 32 million is not found, Elliott will prepare to take over the club, quickly proceeding with the bureaucratic processes, then going on to sell to a reliable investor; one who can guarantee a profit.
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