“Happy New Year to everyone! Chinese businessman Li -- who purchased the Italian club for 740 million euros ($911 million) in April 2017 -- was responding to reports that he has been ordered to auction off his assets to repay unpaid loans to two banks. Elliott, established in 1976 by Singer, is thought to be worth around $35bn (£27bn) and has invested in companies as diverse as Sky and Costa Coffee in the UK. “If we see the recent moves in the market, then the Milan fans should be optimistic,” says Pippo Russo, a sociologist from the University of Florence who specialises in football. since the abandonment of Mr. Li, for economic and bureaucratic reasons, Milan is still under the guidance of Elliott. Confirmation Li Yonghong had completed his protracted takeover of Milan a few days before the derby della Madonnina was also greeted with scepticism by some in the Italian press. At the end of the market, after spending â¬194.48million (as the highly reliable Transfermarkt.it states), the Mirabelli and Fassone duo did not satisfy the ownership who wanted a top striker like Pierre-Emerick Aubameyang, but for whom the hopes faded after Bonucci came. For just one minute, forget everything you think you know about how Milan was acquired by current owners Elliott Management. It is patience that, at least for a year with Mr. Li, had turned into investing and winning immediately. “For the last three or four years it has been very unsettled,” Russo says. Nonetheless, despite the uncertainty surrounding the club as it enters another era of ownership, the mood is considerably more positive than this time last season under Li. Li Yonghong, the A.C. Milan owner, and Li Shangbing have two things in common. The deal was first reported by James Horncastle.. tweet; Yonghong Li. Sino-Europe Sports … It’s like they have agreed it is better we don’t talk about him any more. Li Yonghong looked victorious as he held up an AC Milan shirt outside the San Siro, the Italian club’s home ground and one of the great cathedrals of European football. Download AC Milan's official App to immerse yourself fully in the Rossoneri world. First published on Sat 25 Aug 2018 04.00 EDT. From the failures marked by the signings of Higuain and Caldara and the appointment of Giampaolo, plus the departures of Leonardo, Boban, and perhaps Maldini, the Rossoneri flags were first seduced by Elliott and then abandoned. The leading site dedicated to AC Milan in English, providing you with news, features and match content. Milan, Yonghong Li Searching For A Minority Partner. It was also expenditure that for the particular season in question was up there with Paris Saint-Germain, Manchester City and Bayern Munich. All rights reserved. What is for certain is Li’s ill-fated reign is firmly in the past. Elliott also strongly believes in the value-creation opportunity at Milan.”. Calcio e Finanza are reporting that former AC Milan owner Yonghong Li will have a run in with creditors over a loan he took out to buy the club back in 2017. A budget that, until the arrival of Mr. Li, had never been seen, neither in Italy nor at a club like Milan. Li Yonghong, om de afaceri chinez, a fost trecut de un tribunal din Hubei pe o listă a persoanelor care nu prezintă încredere din cauza datoriilor, instanţa ordonând să-i fie reţinut paşaportul, a mai scris sursa citată.. Li Yonghong a acumulat numeroase datorii, în special când a împrumutat bani pentru a cumpăra AC Milan. By. Although public opinion has been mixed from the beginning regarding Mr. Li it must be said that, for investments and results, he had a short but understood era. The 1994 World Cup winner was joined this month by Paolo Maldini as the sporting strategy and development director – a coup given the legendary former defender turned down a similar role last year under Li’s ownership – while Kaká, the 2007 Ballon d’Or winner, is also set for a role at his former club, potentially working under the Arsenal chief executive Ivan Gazidis. AC Milan owner Li Yonghong has dismissed reports that he has been declared bankrupt in China as “fake news”. Liga Italia 26 Mei 2018 07:00 Hadapi Masalah Besar, UEFA Sarankan AC Milan … As if that were not enough, Gianluigi Donnarumma â targeted by Juventus and PSG â agreed to sign a rich contract and commit his future to his boyhood team. Have you read these stories? From Andre Silva to Bonucci, from Biglia to Kalinic â the errors have been manifold and unforgivable. Scaroni named as the new President of the Milan Board of Directors, Fassone and the Chinese have been removed Meytar Zeevi - Jul 21, 2018 Yonghong Li: “I was convinced Elliott was a trustworthy investor, I am ready to fight to safeguard my rights” Meytar Zeevi - Jul 21, 2018 The second, at the end of the season, was a return to Europa League which would then be repeated the next season. Tifo Football 52,744 views. I am ready to fight and I will do it to safeguard my rights and give assurances to the Milan shareholders, whom my beloved club deserve.”. Sat 25 Aug 2018 16.31 EDT At the helm of Milan, Yonghong Li immediately obtains two important results: the first is that of the Italian Super Cup, won in December 2016, although still with the old leadership at the helm. But, of course, it will be on the pitch that they will be judged. I would like to mention, by the way of example, that at the moment Elliott appropriated my shares in Milan, I was offered the sum of €2 as compensation for my total investment! A continuous change and recycling that only affects, once again, the history of a glorious club. Instead, they wish to decrease the budget and continue to repeat two phrases that do not resonate well with Milan fans: patience and young players. From China, AC Milan’s President Yonghong Li has released an official statement denying all allegations from Il Corriere della Sera pretending that Mr. Li had filed for bankruptcy. Facebook. 7:20 . “The Italian press and Milan supporters never mention him. But Elliott’s tendency to invest in failing companies before selling to the highest bidder means it has been variously compared to wolves and hyenas, as well as vultures. “We still don’t know anything about him,” Russo says. Stefano Bernardini - Mar 7, 2018. COVID-19: Maha ups scrutiny for entry. Tonight, “Sky Sport Italia” and “Tuttosport” declared that transactions were very nearly an understanding of 500 million euros in addition to […] “Elliott looks forward to the challenge of realising the club’s potential and returning the club to the pantheon of top European football clubs where it rightly belongs. Some people have speculated that through him Berlusconi still has relations with the club but we don’t know for certain and probably never will.”. Elliott showed itself to not be the partner I imagined but rather totally disinterested in the management of Milan, Yet although many feared the worst when Elliott took charge, the early signs are it is in for the long haul when it comes to restoring Milan to former glories. Yonghong Li has broken his media silence to speak to SempreMilan about a number of key issues related to the club and his time as owner. Sporting a white T-shirt with blue shorts, Li looked relaxed for a man who claims he has lost more than €500m in little more than a year. I spent this traditional holiday at home with my family. SHARE. Maybe now we will be talking about another Milan. Less than two weeks after Elliott assumed control, the former sporting director Leonardo returned to the role he first occupied in 2008, before the Brazilian took over as manager for a season in 2009. Despite the huge investments of recent years, especially those of the former president Yonghong Li, the team has continually failed to recover. Italian daily Corriere della Sera claimed that the 48-year-old … Bonucciâs arrival at Milan, for around â¬42million euros, for the first time in many years, marks an important downside. The postponement of the game against Genoa in the aftermath of the Morandi bridge collapse meant Gennaro Gattuso’s side have been kept waiting until Saturday night to begin their Serie A campaign, at Napoli. “Financial support, stability and proper oversight are necessary prerequisites for on-field success and a world-class fan experience,” read a statement from the company’s founder and joint chief executive, Paul Singer. President Li Yonghong's message AC Milan. The nearly â¬200million spent in a single market session represents a real record. Elliott Management, the American hedge fund company that had previously provided another loan of €300m to allow Li to complete his €740m takeover last year, immediately moved in and assumed control in July, promising to invest more than €50m in an attempt to stabilise the seven-times European Cup winners. AC Milan could be sold by Chinese owner Li Yonghong after he failed to make a debt payment worth €32m (£28m) to a US investor. With the COVID-19 emergency ongoing, the topic of football has rightly gone into the background, but there are those who keep wondering what will become of the future Milan. The same situation will then be repeated with the arrival of Biglia, another unfortunate purchase by Mirabelli and Fassone. In August 2016, Fininvest, the parent company of Italian football club A.C. Milan, signed a preliminary agreement with a Chinese investment management company Sino-Europe Sports Investment Management Changxing Co., Ltd. (Chinese: 中欧体育投资管理长兴有限公司) to sell the club for €740 million (including €220 million indebtedness of the company), valued on 30 June 2016 (A further €90 million cost of the club from 1 July to the closing date was added to the valuation). Patience is something that everyone has lost. Elliott has yet to respond to the Observer’s questions over its long-term intentions, which included a request for more information about Li’s reasons for defaulting on his loan. According to Italian daily Corriere della Sera, Milan owner Yonghong Li has declared himself bankrupt and his assets will now be auctioned off on Taobao - the Chinese version of Ebay. Yonghong Li Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. “In my opinion he is the key actor in this story,” Russo says of Scaroni. Li Yonghong lost control of AC Milan in July when he failed to repay a loan from a hedge fund that had enabled him to buy the club. Loading... Unsubscribe from AC Milan? The payment was due to be made on Friday. The operations to refinance Milan’s debt are ongoing. State Health minister Himanta Biswa Sarma announced the leader's death today, he reportedly succumbed after … Silvio Berlusconi has finally sold his soccer team, AC Milan. He represents the continuity in all of this. Juventus no longer bought the strongest players, thus weakening the other competitors in Serie A but, for once, AC Milan did. The Chinese consortium led by Yonghong Li and Han Li has a simple but clear vision. The first is a relationship with Guangdong Lion. The second, at the end of the season, was a return to Europa League which would then be repeated the next season. By Muqaddam Malik Apr 29, 2020, 12:30pm CEST Li took over the club in the summer of 2017 and lost it in about a year when he defaulted on his loan with Elliot Management who seized the club thereafter. Less than two years after Li Yonghong signed a preliminary agreement with Silvio Berlusconi to take over the club, which once marketed itself as “the most titled in the world”, an eight-second video clip of the Chinese businessman at a family barbecue went viral in Italy this past week. It is too bad that some choices have not gone the right way. >Milan: AC Milan owner Li Yonghong has dismissed reports that he has been declared bankrupt in China as "fake news". “Elliott showed itself from the start to not be the partner I imagined but rather a lender totally disinterested in the complex management of a club of Milan’s standing, despite its control of the team’s board. Live football scores . The buyer is a group led by Yonghong Li. Yonghong Li & Han Li. Agent of Alvaro Morata confirms striker snubbed Milan and Napoli to join Juventus, MN: Milanâs probable XI for trip to Genoa – Leao and Castillejo set to start, Calabria details relationship with Maldini and Milan’s current ‘super positive moment’. Liga Italia 09 Jun 2018 18:00 Bangkrut, Yonghong Li Bakal Jual Saham AC Milan. © 2020 Guardian News & Media Limited or its affiliated companies. In the case of Milan I don’t think Elliott is there to act as a ‘vulture fund’ but more as investors who want to maximise the assets and the brand of the club.”. Then we will see who is interested in buying the club.”. Nimeni nu știe unde se află Li Yonghong în acest moment. Current table, fixtures & results. Yonghong Li membeli Rossoneri, julukan AC Milan, lebih dari setahun yang lalu dengan bantuan pinjaman besar-besaran dari Elliott Management. Price: $828 million. “The worst moment in their history has now passed. A fund that, unlike Mr. Yonghong Li, who had presented himself saying he wanted to win immediately, doing the facts by immediately entering â¬200million destined for the purchase of many players; is certainly not doing better than the previous one. Unfortunately, however, the market choices have not turned out to be right. So far, at least, they have been as good as their word. Reportedly, late attempts to sell his stake to Rocco Commisso, an Italian-American cable TV billionaire, and the Ricketts family, who own the Chicago Cubs baseball team, came up short, with the 48-year-old Li conceding defeat when the interest on his loans with Elliott rose from 11% to an eye-watering 24%. Considering the fact that in the first 6 places of this special classification are teams that have won the Champions League or Europa League from 2010 till now with Milan the only intruder, it would be sufficient for the Chinese to rebuild a team worthy of this glorious name. “He is a man of international finance who was Elliott’s representative on the previous board. AC MILAN'S owner Yonghong Li has declared bankruptcy and his assets will be auctioned off, according to reports Italy. The president is searching for a minority partner to join the Rossoneri Sport Investment. ... AC Milan's Li Yonghong & Silvio Berlusconi - Duration: 7:20. But while the chief executive, Marco Fassone, and the sporting director, Massimiliano Mirabelli, were removed from their roles after the takeover, Paolo Scaroni, the former chief of the Italian energy company Eni and a close ally of Berlusconi, is the new president, having also been on the board last season. Milan have spent almost £100m on players this summer, including Gonzalo Higuaín of Juventus for a £16m loan fee, as they strive to return to the Champions League for the first time since losing in the last 16 in 2013-14. Every day, you'll be able to stay updated through news, photos, videos and events relating to all the Rossoneri teams thanks to an App specially designed for fast and easy navigation. “Elliott’s conduct has always proved to be careless and predatory: in short, the typical behaviour of a ‘vulture fund’, as it has often been described in the past by the international press. All seemed well when Giacomo Bonaventura and Davide Calabria gave Milan a 2-0 lead, only for the hosts to run out 3-2 winners. “I made a mistake and only discovered it to my great detriment during my tenure,” he wrote in an open letter to supporters on the eve of the takeover. Rossoneri Sport Investment Lux, led by Yonghong Li, finally completed their purchase of a 99.9 per cent stake in Milan after seeing a closure on an agreement persistently pushed back. Yonghong Li membeli AC Milan pada tahun lalu berkat pinjaman dari Elliott Management. That was the last anyone heard of him, until this past week. Italian daily Corriere della Sera claimed that the 48-year-old … Today we want to focus precisely on the work of Yonghong, who remained in office as president of the club from 13 April 2017, until July 2018. Milan had returned to striking fear for the first time in a while. At the helm of Milan, Yonghong Li immediately obtains two important results: the first is that of the Italian Super Cup, won in December 2016, although still with the old leadership at the helm.
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