"A dream was becoming within reach: that of a Calabrian boy who emigrated to the States at 12, capable of making his fortune in America and returning to Italy to lead one of the most iconic clubs in Italy and the world. That summer, Commisso began working behind the scenes to complete his takeover of the Rossoneri, sniffing out and identifying the cracks in the Chinese management where he could insert himself."
"In fact, Mister Li's wallet was holding the famous €32m loan to be repaid to Elliott Management by the first few days of July, the same amount that the Chinese entrepreneur would later be unable to find and which would have caused him to lose the club. Li Yonghong had actually hoped to co-opt a minority shareholder, useful for injecting some liquidity - both for a capital increase and for refinancing the debt with Elliott - and allowing him to secure Milan."
Rocco Commisso died, affecting Fiorentina and Italian football. Commisso nearly acquired AC Milan in 2018 when Li Yonghong's finances collapsed. Mediacom's CEO sensed an opening and approached Li as Chinese ownership faltered. Commisso dreamed of returning to Italy after emigrating to the United States at 12 and building a fortune. That summer he worked behind the scenes to complete a takeover, identifying cracks in Chinese management. Li held a €32m loan due to Elliott Management in early July that he later could not find. Li sought a minority investor to inject liquidity, but Commisso pursued full control through Goldman Sachs and nearly reached a notary while racing to block rivals like the Ricketts family.
Read at SempreMilan
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