IS24O: Yonghong Li receives three offers for Milan
In today’s hearing session with UEFA in Switzerland AC Milan did not mention the topic of the new minority shareholder that’s expected to join the club very soon to support president Yonghong Li. There was no time to produce an agreement and related documentation.
However La Gazzetta dello Sport writes that negotiations go ahead and the new partner will be used in case of an appeal at the TAS Tribunal of Lausanne. An agreement should be reached by the end of June with discussions proceeding steadily. The subject (unknown identity till now but very solid financially) will initially acquire a minority share and then take the majority within a pre-established timeline.
According to Il Sole 24 Ore, Yonghong Li has entrusted the entry of a new shareholder to the Alantra investment bank. On his table there are now three offers. Two are American subjects: the one sponsored by Goldman Sachs plus another US offer favored by an Italian entrepreneur. And then there would be a third proposal from another subject. The goal is to close everything within 4 weeks.
The offer presented by Goldman Sachs was the one in a more advanced negotiations phase but president Li froze it in order to better evaluate the others. It would have been better to try to close the deal as soon as possible for the entry of a new shareholder in the club but the Chinese businessman is obviously trying to sell to the highest bidder.
Il Sole 24 Ore writes that the current Rossoneri president aims to remain in the club with a minority share to be liquidated probably when the club is listed on an Asian stock exchange. In recent days there has been talks with him retaining a 30-35% stake at the club, a position similar to that of Erick Thohir at Inter.
