The boss of Milan goes bankrupt?
A serious problem for AC Milan owner Li Jonhon has reported Corriere della Sera in his current issue. According to the information, the businessman is on the verge of bankruptcy, and in his home country, China is already running a sale procedure for his assets. They will be auctioned at Taobao – the Chinese version of eBay.
I owe money to two banks and, in this regard, the valued at 60 million euro packing company Zhuhai Zhongfu, of which the Chinese company owns 11.39%, has already been put up for sale.
In addition, a few days ago, Chinese authorities announced an investigation into Shenzhen Jie Ande, owned by Li Jonhon, for months now hiding it bankrupt.
The Asian bought Milan from Silvio Berlusconi a year ago for 740m euros. For the deal, he uses a credit from the American hedge fund Elliott Management, which must be cleared this spring. In recent months, there have been reports that the debt has been refinanced, but this has never been confirmed. If Li fails to settle with Elliott Management, Milan will have a new owner in the face of the investment fund in question.