It’s happening: Commisso makes formal offer for AC Milan
AC Milan could change ownership in the coming days. President Yonghong Li is considering a formal offer from billionaire Rocco B. Commisso.
According to Radiocor, Rocco Commisso’s Mediacom Communication is ready to close the investment in AC Milan, but is waiting for a final reply from current president and owner Li Yonghong.
A source close to the Italian-American billionaire has confirmed for Radiocor: “We are there, we are ready: we wait, it does not depend on Mediacom now“. These words make it clear that an official offer from Commisso has been formulated and now his entourage awaits a response from Li Yonghong. The businessman of Calabrian origin would become a majority shareholder of AC Milan and the club’s passage under the control of Elliott would be avoided.
The Chinese businessman failed to pay 32 million euros of capital increase last Friday. It was Elliot who injected that figure and if Mr. Li doesn’t repay the 32 million within 10 working days he loses the club. Automatically, Elliot fund becomes the new owner of the Rossoneri. A scenario that Li is doing all he can to prevent it.