The indebted Chinese owner of Italian football club AC Milan has valued the club at around 700 million euros (S$1.1 billion) and has decided against a quick sale for a much lower valuation to US television tycoon Rocco Commisso, a source said. Commisso is among potential bidders eyeing Milan, aware that their owner, Li Yonghong, is in a tight corner. Li risks losing control of the club to his creditor, US investment fund Elliott, unless he pays 32 million euros to Elliott by Saturday. To complicate matters for Li, Uefa has banned AC Milan from next season's Europa League. - REUTERS
UEFA owner Li Yonghong has valued the club at €700m ($ $37m ) 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 Li Yonghong is said to be among the potential bidders for the club. Europa League has also banned AC Milan from the next AC Milan .