Italian giants ac milan hope to put their money worries to one side after being bought out by us hedge fund elliott. Complex debt arrangement in acquisition of club became key to ownership.
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The club claims 16 december of that year as their foundation date but historical evidence seems to suggest that the club was actually founded a few days earlier most likely on 13 december.
Ac milan owner chinese. S toried italian soccer club ac milan has been sold to a chinese consortium says the club s owner former italian prime minister silvio berlusconi. The moves comes after the san siro side s chinese owners failed to repay debts. However with the club s charter being lost the exact date remains open to debate.
Berlusconi who served four terms as prime. Reports claim he is unable to pay back high interest loan taken from hedge. The new chinese owners of italian soccer club ac milan plan to invest in a stadium and could eventually list the team on a stock market to help revive its fortunes ac milan s chief executive.
On the football pitch the italians are known for a slow tactical style that while effective can bore an opponent into submission. Silvio berlusconi has sold ac milan to a chinese investment group for 628million bringing his 30 year tenure as owner to an end. How ac milan s chinese owners lost control to a us hedge fund.
Share on twitter opens new window. The deal will see the seven time european champions 187m. The former chinese owners of ac milan are not alone in their suspicions.
Despite their reputation as a firm that provides complex credit solutions rothschild failed to come up with alternative. The indebted chinese owner of italian soccer club ac milan has valued the club at around 700 million euros 818 million and has decided against a quick sale for a much lower valuation to u s. Ac milan owner yonghong li declared bankrupt and businessman s assets will be auctioned off on chinese version of ebay.
Ac milan is the latest in a long line of european football targets picked out by chinese investors and it won t be the last. Milan was founded as milan foot ball and cricket club in 1899 by english expatriates alfred edwards and herbert kilpin.
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