The Limited Times

AC Milan was a nightmare. Lost by strong powers, media and Elliott '

1/9/2020, 2:38:13 PM


The version of Han Li, Yonghong Li's right-hand man (ANSA)

David Han Li, the right-hand man of Yonghong Li, the mysterious Chinese businessman who bought Milan from Silvio Berlusconi in April 2017, defines the experience in the AC Milan club as "a nightmare". "We had to spend on average - explains Li in Forbes - 10 million euros per month, but the club's original capital requirements were much lower. I woke up and the nightmare was real, it was not a dream". Li, in his reconstruction, indicates in the strong powers, in the media and in the Elliott fund - which in July 2018 took over the club for the non-payment of debts - the reason why the Chinese lost control of the club: "The Chinese government banned bringing capital overseas. The heavy media attacks against us did not help: an article in the New York Times was harmful and the Italian media started attacking on the exact morning we started the process of London debt refinancing. I asked one of Elliott's managers directly if they were responsible for carrying out those media attacks and if they wanted the club on their own. Of course, he denied. We had heard of Elliott's reputation but not you never know if relationships are real until you really know someone. Now we don't trust anyone. "