According to the latest reports out of Italy, Yonghong Li will pay the €32m to Elliott in order to avoid the latter taking full control of AC Milan.
The Chinese investor will reimburse Elliott after the American hedge fund paid the €32m capital increase requested by the club, claims Sky Italia. The deadline of the payment expires at some point tomorrow (Friday) and Yonghong Li will transfer the money before that, after reports suggested that he didn’t have the money and was running out of time.
Once the money is paid, he will continue the sale negotiations with the investors interested, including Commisso and the Ricketts family. Corriere Della Sera also add that an Asian businessman is interested in purchasing the club, stating that a binding agreement could be signed as early as tomorrow.