Yonghong Li intends to find a minority shareholder by June 30 to help provide the remaining €32.3m and keep Milan in his hands.
The President purchased the club just over a year ago with the aid of a massive loan from hedge fund Elliott Management, which must be repaid with interest for a total of €380m in October.
With Financial Fair Play parameters also causing problems and the potential UEFA could exclude the Rossoneri from Europe, it’s a race against time to find new income.
Yonghong Li intends to find a minority shareholder by June 30 to help provide the remaining €32.3m and keep Milan in his hands.
The President purchased the club just over a year ago with the aid of a massive loan from hedge fund Elliott Management, which must be repaid with interest for a total of €380m in October.
With Financial Fair Play parameters also causing problems and the potential UEFA could exclude the Rossoneri from Europe, it’s a race against time to find new income.
According to multiple papers, including La Gazzetta dello Sport and Il Giornale, Yonghong Li has found someone prepared to become a minority shareholder.
This investor would buy up between 20 and 49 per cent of the club to bring in fresh funds, but also would promise not to attempt a takeover.
As always with Yonghong Li, the identity of any potential investors or the status of developments are firmly under wraps.