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Source: Diario AS
The Chinese Milan finished after only 15 months: Li Yonghong ceased to be the owner of the Milanese club by not returning on July 10 the 32 million that the Elliott fund advanced for the entity's capital increase . A debt that added to the 303 million that the Chinese businessman had to pay before October to the Americans, and officially to the new owners of the Rossoneri.
This afternoon, a first board of directors will meet to convene a shareholders' meeting on July 21, the four new members who will replace the Chinese will be appointed. The next president, according to Sky Italia, will be Paolo Scaroni former CEO of producer and multinational electricity distributor Enel
The US fund announced in a statement its intention to "create financial stability" . and management, achieve long-term success and ensure that the club complies with UEFA rules through financial fair play. "One of the first measures will be an investment of 50 million to stabilize the accounts and in Italy there is talk of 100 million more in the coming months.
With this change, Milan also hopes to convince the Court of Deportivo Arbitrage of Lausanne to cancel the sanction that excluded him from the next Europa League.The doubts about Li Yonghong also influenced the decision of the UEFA Arbitration Chamber, which left the team on June 27 for a season due to debts accumulated during the last three years of the Berlusconi era 19659002] Text of Mirko Calemma for AS Journal
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