Yonghong Li is reportedly close to accepting Rocco Commisso’s offer for Milan, as long as he keeps at least 30 per cent of the shares.
The Chinese owner is struggling after his April 2017 takeover, and hedge fund Elliott Management had to provide the €32m for this month’s capital increase.
While it’s thought Li has now come up with the money to repay that, it’s accepted that the club needs new investors.
Yonghong Li is reportedly close to accepting Rocco Commisso’s offer for Milan, as long as he keeps at least 30 per cent of the shares.
The Chinese owner is struggling after his April 2017 takeover, and hedge fund Elliott Management had to provide the €32m for this month’s capital increase.
While it’s thought Li has now come up with the money to repay that, it’s accepted that the club needs new investors.
In recent days Commisso, who owns the New York Cosmos, has emerged as the most likely candidate, but he won’t accept being a minority shareholder.
That caused talks to stall this week, but Corriere della Sera believes a deal could be done where Li keeps 30 per cent or more of the shares.
That would release the club from the debt to Elliott, while potentially still allowing Li to make money on his investment in the future, though he’d lose around €300m in the short term.