Reports had suggested that Yonghong Li, after missing the deadline of the €32m payment to Elliott, would lose the club to the American hedge fund. However, new reports suggest that Yonghong Li still has a chance.
In fact, as reported by Sky Italia, Yonghong Li has until Monday to negotiate with different buyers, eventually closing a deal for the sale of the club.
Should he find a buyer, then he would have to pay back the €415m he owes to Elliott, which would be financed by the sale. If so, then Elliott could decide to hand the club to the buyer, while Yonghong Li would keep a minority stake in the club.
However, it’s not very likely that Yonghong Li will find a buyer, close a deal and provide Elliott with the necessary funds in time.
What Do You Want Mr Li.. if you dont have enough money.. just sell My Lovely Club.. dont make things getting worst
Milan must get rid of Mr Li as soon as possible. And let’s hope the new owners would look at AC Milan as a football club and not just as a business enterprise.