Commisso on verge for Milan

By Football Italia staff

Sky Sport Italia claim Rocco Commisso could agree a Milan takeover tomorrow, with Yonghong Li retaining 15-20 per cent of the stocks.

The US billionaire and New York Cosmos owner has made an offer to buy the club for €500m plus a guarantee to cover the €380m debt to hedge fund Elliott Management.

He would not be buying up 100 per cent of the club, at least not initially, with Yonghong Li retaining 15-20 per cent.

It’s reported these negotiations have been going on for 40-45 days already, largely in secret, while the Rossoneri battled UEFA and a Financial Fair Play punishment.

The first step in the takeover would see Commisso pay back the €32m that Elliott Management provided this week to increase the capital, as Yonghong Li missed his deadline.

Some reports suggest the deal could be done today, but most believe from tomorrow onwards is more realistic.

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