Milan fell foul of UEFA after their takeover by Li Yonghong in 2016 resulted in the Chinese businessman seeking a high interest loan of €300m to cover the costs and settle a debt.
AC Milan Press Conference
UEFA demanded to be informed of the financial strategy moving forward, yet remained uncertain as to how Milan would pay the loan back on time and about the 'financial guarantees of the main shareholder' - which was Li.
Milan finished last season with a €100m spending deficit, more than three times the €30m annual limit permitted by UEFA rules, leading to sanctions.
Now, however, Milan will be back in the Europa League this coming season after CAS overturned UEFA's decision to expel them and insisted that the football governing body think up a punishment more proportionate to the club's breaches.
Lombardi Associates
@LombardiAssocs
Court of Arbitration for Sport annuls UEFA decision to exclude AC Milan from UEFA club competitions on basis that sanction not proportionate. In particular, the current financial situation of the club is now considered to be better following the recent change in club ownership.
Li had previously been in talks to sell Milan to American businessman Rocco Commisso, but that takeover fell through after Li reportedly changed the terms of the deal at the 11th hour.
Culled From; 90Min
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