Former Milan President Silvio Berlusconi points out the new Chinese owners “always met their commitments”.
Rossoneri Sport Investment, the consortium led by Yonghong Li took over the club in April, but there have since been doubts about how much money they actually have.
Former Milan President Silvio Berlusconi points out the new Chinese owners “always met their commitments”.
Rossoneri Sport Investment, the consortium led by Yonghong Li took over the club in April, but there have since been doubts about how much money they actually have.
A New York Times investigation alleged that Li didn’t actually own the mining company which is said to be the source of his wealth, and it took a loan from hedge fund Elliott Management to get the takeover through.
As a result the former owner has come under scrutiny for the sale, but he defended both himself and the new owners on Twitter today.
“To sell Milan, Fininvest entrusted advisors, law firms and banks of international standing,” Berlusconi wrote.
“The Chinese buyers always met their commitments, and an important fund like Elliott felt able to provide them with a very considerable loan.”
Per cedere il Milan, Fininvest si è affidata ad advisor, studi legali e banche di livello internazionale. Gli acquirenti cinesi hanno sempre rispettato puntualmente gli impegni presi e un fondo importante come Elliott ha ritenuto di poter garantire loro un prestito rilevantissimo
— Silvio Berlusconi (@berlusconi) November 22, 2017
Berlusconi also offered his opinion on Carlo Ancelotti’s potential candidacy for the role of Italy CT.
“He’s such a talented Coach, who I think so highly of that I think he’s suitable for any task.
“There’s no magic recipe for Italian football, it will take a long and patient rebuilding job, starting from the nurseries with the valorisation of young people.”