AC Milan owner Li Yonghong has valued the club at €700m ($1.1bn) but decided against a quick sale for a lower price, despite the risk of his creditor, US investment fund Elliott, taking control of the club if €32m ($37m) is not repaid by Saturday. US television tycoon Rocco Commisso is said to be among the potential bidders for the club. To complicate matters for Li, Uefa has banned AC Milan from next season's Europa League. The Italian media reported that Berlusconi had been in talks with Elliott and other investors about buying the club, which would have given him total ownership over one of Europe's most successful clubs.
AC Milan owner Li Yonghong has valued the club at €700m ($1.1bn) but decided against a quick sale for a lower price, despite the risk of his creditor, US investment fund Elliott, taking control of the club if €32m ($37m) is not repaid by Saturday. US television tycoon Rocco Commisso is said to be among the potential bidders for the club. The Italian media reported that Berlusconi had been in talks with Elliott and other investors about buying the club, which would have given him total ownership over one of Europe's most successful clubs.