The Cosmos played in the NASL until 2018, when the USSF refused to sanction it as a second-division league because it failed to meet certain standards. Financially troubled Italian football club AC Milan is the subject of two acquisition attempts , according to Italian and US media reports . Billionaire Rocco Commisso , who owns New York Cosmos , is in talks with Milan chairman Li Li , and media reports he is ahead of the Li family . According to PR agency Edelman , they want to make a " medium - to long - period investment " in the Serie A team . Last year , AC Milan spent more than € 200 m ( $ 233 m ) on players ' salaries , while the loans of € 180 m and € 200 m are due to be repaid in October .
Financially troubled Italian football club AC Milan is the subject of two acquisition attempts , according to Italian and US media reports . Billionaire Rocco Commisso , who owns New York Cosmos , is in talks with Milan chairman Li Li , and media reports he is ahead of the Li family . According to PR agency Edelman , they want to make a " medium - to long - period investment " in the Serie A team . Last year , AC Milan spent more than € 200 m ( $ 233 m ) on players ' salaries , while the loans of € 180 m and € 200 m are due to be repaid in October .