According to Italian daily Corriere della Sera, Milan owner Yonghong Li has declared himself bankrupt and his assets will now be auctioned off on Taobao – the Chinese version of Ebay.

Questions had been previously asked of Yonghong’s financial stability, with the New York Times and Italian financial paper Il Sole 24 Ore having already carried out investigations pointing to his lack of funds. 

However, the latest reports suggest the situation has now culminated to the point where the owner has had to declare himself bankrupt. 

Days prior, the China Securities Regulatory Commission also announced the start of an investigation into illicit practices from his holding company Shenzhen Jie Ande for hiding their bankruptcy for months.

Li bough…

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