Milan owner Yonghong Li is due to pay another €10m toward a capital increase by tomorrow, and reports suggest he could be removed if it doesn’t arrive.
The Chinese businessman bought the Rossoneri in April last year, but there have been persistent questions about his financial status.
UEFA have doubts about Li’s ability to sustain the club, and rejected a settlement agreement on Financial Fair Play earlier this week.
Milan owner Yonghong Li is due to pay another €10m toward a capital increase by tomorrow, and reports suggest he could be removed if it doesn’t arrive.
The Chinese businessman bought the Rossoneri in April last year, but there have been persistent questions about his financial status.
UEFA have doubts about Li’s ability to sustain the club, and rejected a settlement agreement on Financial Fair Play earlier this week.
According to La Repubblica, the owner is due to pay another €10m of the capital increase approved at a shareholders’ meeting by tomorrow.
If that doesn’t arrive, Elliott Management could step in to remove him.
Li borrowed €180m from the U.S hedge fund to complete his takeover, while the club itself owes around €124m.
Elliott can take over in October if those sums aren’t repaid, then sell the club to the highest bidder.