MN: Rocco Commisso’s plans to revive AC Milan
American businessman Rocco Commisso was about to buy AC Milan today but in the last minute current owner Yonghong Li changed his mind.
Today was supposed to be the last day of negotiations between AC Milan president Yonghong Li and billionaire Rocco Commisso for the sale of the club. Unexpectedly the Chinese businessman interrupted everything and is reportedly trying to find the 32 million euros he should pay to Elliot by next Friday. But what was Commisso’s strategy on how to revive AC Milan?
Based on the information gathered by MilanNews, the business plan of Rocco Commisso provides some important points for the relaunch of the Rossoneri. First of all, the Italian-born American businessman would invest 150 million euros for the club immediately after acquiring the majority of shares from Mr. Li. Money to be invested strictly on the transfer market and for the club’s needs.
The next step of the media mogul was to extinguish AC Milan’s debt with Elliott Fund (a total of 303 million euros plus interest) and launch the project for a new stadium 100% owned by AC Milan. A new arena is considered to be a strategic asset that is fundamental for the increase in revenues in the coming years. The only good news is that, despite UEFA’s decision to ban Milan from playing Europa League football next season, Commisso remains interested in the Rossoneri.