Li given Milan ultimatum?

Elliott Management will reportedly take charge of Milan if Li Yonghong does not invest €10m by early next week.

According to Sky Sport Italia, Li has been given an ultimatum by Milan’s board, with his position weakened by UEFA’s decision to reject the settlement agreement he spearheaded last week.

Consequently, the Chinese businessman would have to commit to the €40m capital increase approved by shareholders by the end of June or lose the Rossoneri ‘in an automatic transfer’ to Elliott.

Elliott Management will reportedly take charge of Milan if Li Yonghong does not invest €10m by early next week.

According to Sky Sport Italia, Li has been given an ultimatum by Milan’s board, with his position weakened by UEFA’s decision to reject the settlement agreement he spearheaded last week.

Consequently, the Chinese businessman would have to commit to the €40m capital increase approved by shareholders by the end of June or lose the Rossoneri ‘in an automatic transfer’ to Elliott.

The broadcaster adds he will also be forced to give up his membership on the club’s board.

As for how the hedge fund would manage Milan, Sky explains it will first look to ‘balance their books and make them more solid in an economic sense’, so as to attract potential buyers.

On the other hand, Elliott may decide to keep the Diavolo, given Gordon Singer – son of the American fund’s founder Paul Singer – is described by the broadcaster as a big football fan.

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