Milan owner Yonghong Li must repay €32m to Elliott Management today or cede control of the club to the U.S hedge fund.
The Chinese businessman didn’t pay the latest instalment in a capital increase last month, and the fund had to step in to cover the cost.
Today is the deadline for Li to repay that money or lose the club to Elliott, and it is expected that he’ll come up with the money.
Milan owner Yonghong Li must repay €32m to Elliott Management today or cede control of the club to the U.S hedge fund.
The Chinese businessman didn’t pay the latest instalment in a capital increase last month, and the fund had to step in to cover the cost.
Today is the deadline for Li to repay that money or lose the club to Elliott, and it is expected that he’ll come up with the money.
He is nonetheless keen to sell the club, and is in talks with Rocco Commisso, the Ricketts family and a new mystery bidder.
Li also borrowed money from Elliott to complete his takeover, and that has to be repaid by October or the club will fall into the hedge fund’s hands.