AC Milan owner Yonghong Li declared ‘bankrupt’ and busniessman’s assets will be ‘auctioned off on Chinese version … – The Sun

AC MILAN’S owner Yonghong Li has declared bankruptcy and his assets will be auctioned off, according to reports Italy.

The Chinese businessman completed the purchase of the seven-time European champions for £628million in the summer.

EPA

AFP

A lack of transparency clouded the mega-deal, with many questioning where the vast amount of money was coming from.

An investigation from Corriere della Sera found that Li’s debts have now culminated to the point where he has been forced to declare himself bankrupt and his assets will be auctioned off on Taobao the Chinese version of Ebay.

The initial deal was frequ…

Read the full article at: https://www.thesun.co.uk/sport/football/5616566/ac-milan-owner-yonghong-li-bankrupt-ebay/