On the morning of February 19, 2018, Corriere Della Sera has reported that the Milan owner Yonghong Li has gone bankrupt and will sell his companies online via Taobao (Chinese auction site, similar to eBay).
Li took control of AC Milan in April 2017. After a huge summer rebuild of the squad, suspicion started to grow around the world as he had bought the Rossoneri for around €740M and has gone on to spend over €200M in the summer transfer window.
He took a huge loan from Elliott Management and is being sued by 2 banks for taking loans and not being able to pay them back. The real question is, will he sell AC Milan to pay his debts or will he sell another of his companies. He is in serious trouble and this may affect the club.
Milan Owners Go Bankrupt!