IS24O: Li Yonghong in London for a last-minute closure
Important news regarding the future of AC Milan. According to Carlo Festa of “Il Sole 24 Ore“, president Yonghong Li is currently in London looking for a last-minute solution for the reorganization of the Rossoneri club.
The Chinese businessman has attended several meetings with some investment banks and he was also engaged with his advisors to further evaluate the offer of billionaire Rocco B. Commisso for the sale of Milan, as well as other proposals such as that of the Ricketts family.
Time flies and Li Yonghong can’t afford to wait. Today is the deadline for Mr. Li to return the 32 million euros paid by Elliott for the last capital increase. If this money is not reimbursed today afternoon, the US fund will officially become the new owner of the club and Rossoneri Lux starting from Monday.
For the time being, according to rumors, the Chinese businessman has not sent any wire transfer to Elliott. Mr. Li still has a few hours to accept one of the proposals on the table. At work, on behalf of the Rossoneri owner, there would be the financial advisors of Alantra and the law firm White & Case. Rocco Commisso is instead joined by Goldman Sachs, while the Ricketts family is assisted by Morgan Stanley.