OH NO NO NO NO NO LOOK AT THIS DUDE
AC Milan owners officially bankrupt
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nytimes.com
acmilaninfo.com
m.calciomercato.com
ilsole24ore.com
twitter.com
RIP in pepperoni
I summon the albanian
>last April, Chinese businessman Yonghong Li purchased AC Milan for 740 million. From the start things looked shady as apparently no one in China had ever heard of this guy and his alleged phosphate extraction businesses. Before the deal was finalized, there were reports that half of the funds for the purchase were being moved through offshore accounts in the Cayman and Virgin Islands (340 million, as it turned out). To make matters worse, in order to complete the purchase Li had to borrow 300 million from hedge fund firm Elliott Management (123 loaned under Milan's name and 180 million directly to Li himself), followed by a second loan of 55 million also from Elliott to finance their lavish transfer campaign in the past summer.
>The problem with this is that Elliott are known for being a vulture fund which issues loans at extremely high interest rates and profits by buying and selling debts of bankrupt or near-bankrupt companies. The total amount of 355 million that Li and Milan owe to Elliott must be payed by October 31, 2018 (unless the parties agree to a refinance), on top of which there's also a whopping 11.5% annual interest rate. If they fail to do so, Milan will be then owned by Elliott, which in all likelihood will be eager to "vulture" all of its assets and selling it to the highest bidder with no regard for the club itself. So the million dollar question now is whether Li will be able to make good on his debts to Elliott.
>The New York Times looked into his alleged phosphate mining operations.
nytimes.com
>they're owned by a certain company named Guangdong Lion, which has been sold around to various people for $0. When the NYT when to visit Guangdong Lion's listed headquarters, they found empty and abandoned office space and a phone number that connected to a lady responsible for registering new companies.
jesus fucking christ, the absolute state of AC Milan's investor chices
Lombardian intelectuals lmao
Berlusconi must have been desperate
Are you ready for the grand Berlusconi return?
>gamble all your money on making the CL
>don't even last the first season
you retards
Berlusconi made tons of cash by selling it kek
liquidation soon?
Poor AC
unlikely, there is talking about some fucking arab
>a club having owners
Jewtalians deserve this.
topkek comedy gold
An Arab would at least not have his gommunist government stopping him from taking money out of the country (or maybe he's the government himself, I don't know).
I'm surprised they havent bought Milan yet, one of the biggest clubs on Europe in such a bad position, I bet it wouldn't even be that expensive.
arabs would be a good solution though
Not like this
>mfw I'm an Inter customer
I figure serie a isn't particularly marketable, they won't even be able to built a club-owned stadium.
acmilaninfo.com
>According to today’s reports by Corriere della Sera, the People’s Court in Shenzhen officially declared “Jie Ande”, the most important and most liquid company among those indicated in the official curriculum of Yonghong Li, to be bankrupt. The court decisions does not have direct effects on the Rossoneri club but the asset solidity and credibility of president Li, already shaky, suffers yet another blow.
>Bad news for AC Milan in a time when the club needs between 30 and 40 million to close the season. Help can come from Elliot Fund that could loan the total figure. This amount will serve as a guarantee to UEFA and would ensure AC Milan’s participation in European Cups.
m.calciomercato.com
>As stated in the Gazzetta dello Sport, a bid would be received by Saeed Al-Falasi, a member of a noble family of the United Arab Emirates and owner of the International Triangle group, active in various sectors, from trade to construction to brokerage. It is not the only one: according to La Repubblica, there are also another US fund and a Russian consortium referring to the minority shareholder of Arsenal, the billionaire of Uzbek origin Alisher Usmanov who are interested in buying the club.
As an Inter fan this is pretty sad, I wouldn't wish this to my worst enemy. Not to mention we're standing on similarly shaky ground
wut
is this another Notts County type episode then?
are there no checks that people actually have the money they say they have?
Explain
arab,american or russian new owner
i think i'd go for arab,they seem to have unlimited money
Chink owners
All our best players are gonna fuck off if we don't reach CL
I'm interista too and I'm really worried that an arab tycoon will buy them
Reminder that Pallotta called this months ago.
Apologize.
>the albanian hasn't showed up yet
shit thread (as for now)
So we agree arab owner is the best owner right?
Better than chinese
Where did all go so wrong
>i think i'd go for arab, they are the only ones who like to throw away their money
fixed
Kek, there was a thread about Milan two or three days ago where we people discussed how awfully have they spent their shady chink money. I also pointed out how Milan might be in trouble when the main chink gets exposed as a fraud who took massive loans from hedge funds, providing links to Reuters and FT. Seething Albanian called those source jewish fiction and Li would lead Milan to new glory days.
Literally two or three days ago
yeah, arab philosophy is that whenever something breaks, you just buy a new one
explain how was that scumbag italy's PM ,again?
Owner Power Rankings
1.Arab
2.Russian
...
10.American
Power Gap
91.Local Billionare
Power Gap
90000000000000001.Chinese
was italy's ** shieet
Only one company that he used to know some shares of went bankrupt, not him personally
Berlusconi had a reterdedly high asking price
Plz Man City next
>no fan ownership
this is pretty fair too kek
nice try jose
>I unironically support oil clubs
Scum of the earth
>I also pointed out how Milan might be in trouble when the main chink gets exposed
they wont, Eliott will just sell them to the best bidder, Milan as a club as close to 0 debts
Kek I was there
is this /seriea/?
if you cant beat em, join em
Why local billionaire below American? Americans seem like pretty shitty owners.
Nope.
I don't know man, it might be complicated. Apparently he took multiple loans directly under Milan's name and therefore the whole operation degraded.
>The total amount of 355 million that Li and Milan owe to Elliott must be payed by October 31, 2018 (unless the parties agree to a refinance), on top of which there's also a whopping 11.5% annual interest rate. If they fail to do so, Milan will be then owned by Elliott, which in all likelihood will be eager to "vulture" all of its assets and selling it to the highest bidder with no regard for the club itself. So the million dollar question now is whether Li will be able to make good on his debts to Elliott
--> Better pray for the wealthy camel rider to take pity and buy out the whole thing, including debts
based slovakbro
>Milan will be then owned by Elliott
This is incorrect. Eliott will never be the actual ower, Eliott will only have the right to take the money Li loaned (plus interests) by putting the club in auction.
YAAASSSSS
stop falling for the Li meme
he doesnt exist and the whole operation is orchestrated by berlusconi for money laundering operations
milan is still in his hands
Hey lad
>american
the only american owner in italy i can think of is pallotta and hes a turbo jew
psg was a mid table / lower table club bf they came
There's the Bologna one too, or is he a leaf?
Having no owner is the best. All the best clubs operate like that.
Venezia has an American Owner I think
>For a man who has previously legally represented the likes of Maroon 5, Jay-Z and former New York Yankees superstar Alex Rodriguez, famous celebrity lawyer Joe Tacopina took on his toughest case in bringing broken Venezia back to the top. Tacopina, who is based in New York, inherited his love for the game from his parents, who were Italian immigrants.
>His aim of taking the club back to the top had already been completed once and his experience in Italian football was well renowned, which proved to be good reading for Venezia’s supporters. He bought the club only 20 days after leaving Bologna, after taking the club northerners to Serie A. Ideally, he would still be there had it not been for a rift with Canadian investor Joey Saputo, and he was off just 11 months after taking up the project, leaving with his reputation intact having quadrupled the club’s valuation in that period. Prior to that, he was on the board of directors at Roma, which became the first foreign-owned club in Serie A in 2011.
they can't stop meddling
don't spend much money cuz "we are in it for the long run"
always in the press
This is the only factual statement in the thread
>and nothing of value was lost
Berlusconi gonna buy them back?
leave restoring AC Milan to glory to us
0. fan-owned with maximum licensing deals
>Milan as a club as close to 0 debts
Not true when that Li guy used Milans name for other shady deals. By law, unless Italy and some other international court system see's different, Milan are responsible for those debts.
seething jewventus scum
>Not true when that Li guy used Milans name for other shady deals.
he didn't, if Li doesn't repay Eliott milan goes to auction and Eliott gets his money back plus interests, the rest goes to Li, that's it.
For Milan's point of view it's probably better that Li doesn't pay his debts so that someone who actually has money buys them.
You're right, the article does clarify that.
>Atlantic Albania
What kind of deal did Li make where Elliot pays for half the club, but if they don't get that money back by a certain time +interest, they get to own the entire club?
What a foolish business deal.
they get 11,5% of interests, wich ih huge. Thei'll gain around 40m for this deal if Li doesn't pay them, wich is great for only one year
>all the people who hate PSG suddenly want BASED arab owners
Yeah, it was a dumb deal on Li's part. He should've discussed the length better, surely Milan was able to generate at least 200 million since he bought the club, right?
Aren't United and Liverpool owned by Americans? The Glazers and kind of infamous, they only really care about profit, the chinese just want to siphon money and talent for mother China, a better power ranking would be.
1. Billionaire so absurdly rich he's basically done everything life has to offer so he's now decided that he wants to buy the CL. This guy is a game changer.
2. (((Investor))) that's in for the dosh and is always secretly hoping someone will come along and take this responsability out of his hands for the appropriate price of course.
Best owners would be the own supporters for obvious reasons but most clubs are privately owned.
to whom is he speaking to?
asking his accountant why his wages are paid with Panini stickers
seething jewventus merchant
>el marocchino
we ownd you scum remember 846
HEY YOU AC MILAN CUSTOMER
HEAD TO WIKIPEDIA
TYPE:
PAUL SINGER
AND LOOK AT (((HIS))) CAREER, HE'S A FINANCIAL HACK THAT GRABS THE SHEKEL OUT OF DYING ENTERPRISES
GOOD TIMES AHEAD, AC MILAN CUSTOMERS :/
>hahahahahahahahahahahahahahahaha
based
RIP Albanese guy
'"Che la gradazione del terreno ti sia lieve"
BBBILAAAN BBILAAN GO AWAY FOR EEVEEER
LALA LAAAAA
LALALA LA LAAAAAAAAAAAAAAAA
...ahahahahahahahahahahahahahahahahaha
fan owned
a
n
o
w
n
e
d
seething whatever shiitalian club costomers
out of irony I feel sorry for bilan customers, Elliott is what it is --- PLEASE PEOPLE LOOK AT THE ELLIOTT GUY --- and there's nothing good in it for Milan.
A situation like Parma isn't too far fetched IMHO
the only seething shitskin in this thread is you, Adil
>Inter in name field
>hurr whatever club you support is shieeet durr
the absolute state of African reading comprehension kek
keep crying bitch nigga milan is ahead of every shitalian team
>in contact with NY Rabbis
>jewed peru, congo, ARGENTINA gets into Lon Gong Ly business
>grabs Milan Brand
>resells to Thai Pimp
>Thai Pimp renames it Milanisti Arrapato Thailand
Next Derby will be played in fucking Rajamangala National Stadium ราชมังคลากีฬาสถาน in Hua Mak, Bang Kapi, Bangkok.
>P.Singer photo unavailable