Serie A 2018/19 (21 Viewers)

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Maddy

Maddy

Oracle of Copenhagen
#263
Jul 10, 2009
16,545
#263
This is a football club in soem serious trouble.

There are growing concerns Milan could be excluded from the Europa League, as Elliott Management try to wrest control from Yonghong Li.

UEFA refused to reach either a voluntary agreement or a settlement agreement with the club over Financial Fair Play issues, meaning there will be a heavy penalty coming up next month.

La Gazzetta dello Sport claim there is increasing pessimism on the situation in the Milan camp, as there is the very real fear they could be excluded from the Europa League.

Bloomberg in the US notes that Elliott Management, the hedge fund whose €300m loan allowed Yonghong Li to complete the €740m purchase from Silvio Berlusconi a year ago, are prepared to funnel more cash into the club.

It is that loan, which has to be repaid in full in October with interest for a total of closer to €380m, which proved one of the biggest problems in UEFA’s FFP calculations.

Elliott could effectively take over ownership of Milan this way, but Yonghong Li continues to resist any attempts to prop him up.

According to the Corriere della Sera and Il Giornale newspapers, CEO Marco Fassone is increasingly frustrated at the Chinese patron turning down refinancing or investment proposals.

Fassone confirmed after Friday’s board meeting that the club will raise another €40m of fresh capital.

Milan hired Merrill Lynch to refinance the debt or find potential new investors, but Yonghong Li seems intent on going it alone.

If he doesn't meet October's deadline for the loan repayment in full, then AC Milan will revert to Elliott Management anyway.

Multiple sources, and UEFA’s own investigation, suggest Milan vastly over-estimated the value and growth of the club on the Chinese market.

Massive sponsorship deals were mooted from Asia, but never materialised.
Click to expand...
https://www.football-italia.net/121926/milan-looking-uefa-exclusion
 
Badass J Elkann

Badass J Elkann

It's time to go!!
#275
Feb 12, 2006
68,974
#275
Did nobody think that given nobody in China had even heard of the milan owner, the new york times even did a piece on him only to find out his riches actually consists of an empty warehouse with an empty filing cabinet that he was already shady from the outset... how it was allowed to get this far I'll never know, but since its milan I can't say i feel sorry for them.
 

X Æ A-12

Senior Member
Contributor
#276
Sep 4, 2006
87,953
#276
Gianluigi Donnarumma could reportedly stay at Milan, as no club is willing to pay the €70m asking price.

The goalkeeper’s agent, Mino Raiola, has made no secret of the fact he’d like to move his client on this summer.

With the Rossoneri set to be sanctioned by UEFA over Financial Fair Play, it was expected that Donnarumma would be sold to balance the books.

However, today’s Corriere della Sera reports that no team is willing to spend €70m on him, and Milan won’t consider selling him for less.

Paris Saint-Germain were interested in the 19-year-old last summer, but they look set to sign Gianluigi Buffon on a free transfer. :seven:
 
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