CF: Yonghong Li in hot water over failed repayment of loan he used to buy AC Milan

By Oliver Fisher -

Former AC Milan president Yonghong Li is being chased by creditors over a loan he used to buy the club which he has failed to repay.

Yonghong Li took control of Milan three years ago and his tenure feels like a distant memory now, but he reflected upon his time at the club during an interview with us earlier this year, including the lavish spending the Rossoneri carried out in that first summer window.

According to reports from Calcio e Finanza (via MilanNews), Yonghong still owes Teamway $8.3million and the amount was part of what was used used by the businessman to acquire Milan back in 2017.

It has not yet been reimbursed and a lawsuit has been filed that has lasted since August 2018, and despite the fact an agreement was reached in September 2019 that said Li will pay back $7.3m, that sum has not yet been paid either.

Consequently, the Hong Kong company are looking for lawyers to carry out the sentence.

Tags AC Milan