President Yonghong Li shocked the Rossoneri fans when he abruptly interrupted negotiations with Commisso for AC Milan’s sale. Now the parties are closer then ever.
Negotiations have resumed and the parties are optimistic about closing a deal soon. According to Reuters, the American billionaire Rocco Commisso values AC Milan club at 500 million euros including debt (308 million euros), sources close to the deal have confirmed.
Just one year ago Yonghong Li bought the Italian giants from Silvio Berlusconi for 740 million euros, including 190 million in debt. The Chinese businessman failed to pay the 32 million euros of capital increase, a figure paid by Elliot. If Mr. Li doesn’t repay the entire amount by next Friday (July 6) then the american fund because the new owner of the club.
Commisso it trying to close everything in short time and has decided to improve his last offer allowing Li to retain a 30% stake at the club worth around 150 million euros and pay on his behalf the 32 million owed to Elliot. Sources claim that on Monday the duo may announce their agreement.
