AC Milan’s board are reportedly studying ways to oust the Chinese owners, as Yonghong Li is said to have rejected a €450m takeover bid.
The Rossoneri will be sanctioned by UEFA for Financial Fair Play, with the governing body deciding not to offer them a settlement agreement.
Nobody knows what sanctions that UEFA will impose on the seven time European Champions, but a transfer ban or a balance of zero between purchases and departures are reportedly on the table.
Another option is to ban Milan from participating in the Europa League next season, which will impact the Rossoneri’s bottom line. AC Milan received around €6-8m for their participation in the cup this season, while cashing in over €10m on ticket sales. AC Milan managing director Marco Fassone confirmed this with reporters today.
“Taking the worst scenario, with Milan getting excluded from the cups, there will be a decrease in turnover that I should take into account on expenses,” The Milan CEO told reporters.
If that was not worrying enough for Milan fans, the club’s Chinese owners pledged themselves and the club to U.S hedge fund Elliott Management, in order to the Chinese takeover last April.
If the fund isn’t repaid by October, they can take control of the running of the club.
On Sunday, La Repubblica reported that Li rejected a €450m bid from Dubai, thought to be Mohamed Al-Falasi, which would have settled the Elliott debt.
Yonghong Li, Han Li, Lu Bo and Xu Renshuo, the Chinese board members, will not listen to offers below €750m for the Rossoneri.
As a result, CEO Marco Fassone met with Marco Patuano and Paolo Scaroni yesterday to study legal means of isolating the Chinese.
The club is therefore effectively split into two warring factions.
No wonder that Milan stars like Suso to Bonaventura, Romagnoli and Donnarumma have been linked with a move away from the San Siro, while Milan have been looking to replace them with Bosman transfers.