Yonghong Li is currently in New York for face to face negotiations to sell Milan to Rocco Commisso, according to Libero.
A reporter from the newspaper claims the club President is in the Big Apple with advisors White & Case to discuss terms.
Time is running out for Yonghong Li, as he has 48 hours to repay the €32m to Elliott Management Corporation, handed over last month to increase the capital when Li failed to meet his deadline.
Yonghong Li is currently in New York for face to face negotiations to sell Milan to Rocco Commisso, according to Libero.
A reporter from the newspaper claims the club President is in the Big Apple with advisors White & Case to discuss terms.
Time is running out for Yonghong Li, as he has 48 hours to repay the €32m to Elliott Management Corporation, handed over last month to increase the capital when Li failed to meet his deadline.
Either he finds the €32m or Elliott Management can begin the process of taking over the club.
Yonghong Li was only able to complete the takeover from Silvio Berlusconi in April 2017 thanks to a €303m loan from US hedge fund Elliott.
It must be repaid in full, with interest taking it up to €380m, in October.