There are fresh reports that Milan took out a high-interest loan in August, adding to doubts about the club’s finances.
Calcio e Finanze cites a document recently surfacing on social media, which states Li loaned €7m from Hong Kong company Jin Bao Bao Holdings Limited, at an interest rate of 14 percent.
The website explains the corporation had a registered office in the Cayman Islands and were listed on the Hong Kong stock exchange but has since been renamed Teamway International Group Holdings Ltd.
There are fresh reports that Milan took out a high-interest loan in August, adding to doubts about the club’s finances.
Calcio e Finanze cites a document recently surfacing on social media, which states Li loaned €7m from Hong Kong company Jin Bao Bao Holdings Limited, at an interest rate of 14 percent.
The website explains the corporation had a registered office in the Cayman Islands and were listed on the Hong Kong stock exchange but has since been renamed Teamway International Group Holdings Ltd.
Furthermore, the borrower is named as Rossoneri Sport Investment, which owns Milan and in turn belongs to Rossoneri Advance Co, Li’s company.
Il Sole 24, meanwhile, believes the loan was approved back in June to boost the Milan’s capital.
It comes less than a day after former President Silvio Berlusconi expressed concern about the way the club were being run.
