Milan could face a period of severe austerity measures to balance the books with Financial Fair Play after the Yonghong Li debacle.
The club had originally been excluded from the Europa League due to FFP failures, but after Yonghong Li defaulted on loan repayments and they were essentially repossessed by US hedge fund Elliott Management, they won an appeal with the Court of Arbitration for Sport to be let back in.
However, the situation is far from resolved and La Gazzetta dello Sport warn tough times are ahead for Rossoneri supporters.
Milan could face a period of severe austerity measures to balance the books with Financial Fair Play after the Yonghong Li debacle.
The club had originally been excluded from the Europa League due to FFP failures, but after Yonghong Li defaulted on loan repayments and they were essentially repossessed by US hedge fund Elliott Management, they won an appeal with the Court of Arbitration for Sport to be let back in.
However, the situation is far from resolved and La Gazzetta dello Sport warn tough times are ahead for Rossoneri supporters.
The CAS appeal considered the exclusion from Europe to be ‘disproportionate,’ but the latest balance sheet showing far larger losses than previously thought means belts must be tightened.
Milan are likely to face a heavy fine, a restricted squad in UEFA competition and potentially even a block on new signings.
If UEFA are to offer Milan a settlement agreement on how to progress, it’s probably they’ll demand a strong and credible business plan that would reduce the deficit within four years.
It could see the authorities clamp down on the Rossoneri even harder than they did with Roma and Inter, forcing sales every summer to balance the books.