There are growing concerns Milan could be excluded from the Europa League, as Elliott Management try to wrest control from Yonghong Li.
UEFA refused to reach either a voluntary agreement or a settlement agreement with the club over Financial Fair Play issues, meaning there will be a heavy penalty coming up next month.
La Gazzetta dello Sport claim there is increasing pessimism on the situation in the Milan camp, as there is the very real fear they could be excluded from the Europa League.
There are growing concerns Milan could be excluded from the Europa League, as Elliott Management try to wrest control from Yonghong Li.
UEFA refused to reach either a voluntary agreement or a settlement agreement with the club over Financial Fair Play issues, meaning there will be a heavy penalty coming up next month.
La Gazzetta dello Sport claim there is increasing pessimism on the situation in the Milan camp, as there is the very real fear they could be excluded from the Europa League.
Bloomberg in the US notes that Elliott Management, the hedge fund whose €300m loan allowed Yonghong Li to complete the €740m purchase from Silvio Berlusconi a year ago, are prepared to funnel more cash into the club.
It is that loan, which has to be repaid in full in October with interest for a total of closer to €380m, which proved one of the biggest problems in UEFA’s FFP calculations.
Elliott could effectively take over ownership of Milan this way, but Yonghong Li continues to resist any attempts to prop him up.
According to the Corriere della Sera and Il Giornale newspapers, CEO Marco Fassone is increasingly frustrated at the Chinese patron turning down refinancing or investment proposals.
Fassone confirmed after Friday’s board meeting that the club will raise another €40m of fresh capital.
Milan hired Merrill Lynch to refinance the debt or find potential new investors, but Yonghong Li seems intent on going it alone.
If he doesn't meet October's deadline for the loan repayment in full, then AC Milan will revert to Elliott Management anyway.
Multiple sources, and UEFA’s own investigation, suggest Milan vastly over-estimated the value and growth of the club on the Chinese market.
Massive sponsorship deals were mooted from Asia, but never materialised.