InvestCorp and RedBird Capital Partners are in the race to purchase the AC Milan club from Elliott Management Corporation. The talks are ongoing to see who will have the winning bid to secure the acquisition of the Serie A giants as the deal will reportedly be on the basis of 1.1 billion euros.
Now, a familiar name and face reappears: Yonghong Li, the former AC Milan owner who, on April 26, sent a warning to the Singer family. The gist of the letter is not to undertake initiatives that could invalidate the legal dispute underway since May 2021. The initiative would be precisely the closing with one of the two parties mentioned earlier (InvestCorp or RedBird). For now, the Hong Kong businessman is yet to receive an answer, as per La Repubblica.
The lawsuit in question concerns the 319 million euros requested by Yonghong Li. or the difference between the 600 million of the alleged value of AC Milan in July 2018 (when Elliott took over the club) and the 281 million of the credit of the Fund, which in 2017 financed the closing to the entrepreneur as he is in difficulty in finding the remaining money to close the deal with Fininvest.
In the absence of guarantees, Yonghong Li could theoretically lead to an escalation of the lawsuit by asking the Luxembourg court to invalidate the 2018 change of ownership, as relayed by MilanPress.it.
