Milan released a statement declaring their intention to return to “full sporting and financial solidity” after being reinstated into the Europa League.
The Rossoneri were initially barred from the competition for Financial Fair Play violations, as well as doubts over owner Yonghong Li.
Milan released a statement declaring their intention to return to “full sporting and financial solidity” after being reinstated into the Europa League.
The Rossoneri were initially barred from the competition for Financial Fair Play violations, as well as doubts over owner Yonghong Li.
The Chinese businessman has since been ousted by Elliott Management, the hedge fund which loaned him the money to buy the club, and given the change in circumstances the Court of Arbitration for Sport overturned UEFA’s decision.
“Milan looks forward, with a new owner Elliott Advisors, to returning to full sporting and financial solidity, and is is committed to respecting the rules of UEFA's Financial Fair Play legislation,” a statement released to ANSA said.
It’s believed the U.S hedge fund assured CAS that the club wouldn’t be sold for the next three years, assuaging fears over the ownership situation.