Former AC Milan owner, Silvio Berlusconi, has had the club up for sale for quite some time before a deal was concluded. He insisted the reason for the delay was because he wanted to ensure the buyers had Milan’s best interests at heart.
Last April he eventually sold the club to a Chinese businessman named Yonghong Li for £628 million.
An investigation has now found that Li’s debts have culminated to the point where he has been forced to declare himself bankrupt and his assets will be auctioned off on Taobao…the Chinese version of eBay.
Yonghong Li now claims he was already insolvent at the time he completed the deal to purchase the team last year.
So much for ensuring the buyer had the club’s best interests at heart Berlusconi…
Sad to see such a powerhouse club be at the point where it is now. I remember the Gullit, Van Basten, Rijkaard, and Baresi years where they won everything there was to win.
What a team they were!
Fond memories watching some of these games with “Antonio”, my Dad, who always commented that Gullit needed a haircut…too funny !!