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Waiting for the more complete news
"Nice" timing.
Quote:“Yonghong Li invested €740m to buy Milan,” Galliani told Mattino Cinque.
“We were assisted by a very important advisor and a famous law firm, as was Yonghong Li. Not only did he buy Milan, but another three important things happened.
“First of all, he presented the credentials to the Lega Calcio and was approved. Secondly, the Elliott fund loaned Mr Li over €300m, so they must’ve made their own evaluations.
“Finally, over the summer a transfer campaign worth €200m was completed, giving all the necessary financial guarantees and bank bonds that the Italian rules demand.
“I don’t know the reality of what is happening in China, but one plus one plus one makes three, so that’s how things have gone so far.”

Galliani does make some good points here. If we can take him on face value.
The thing is, and I'm not defending Yonghong here, that the 2 companies that are going to auction because of unpaid debts have nothing to do with Milan. Yonghong has 11% stake in one of them. This happens a lot and I'm not sure that we can just assume the guy has no money because he won't pay a debt for a company in which he owns 11% of. Maybe that company is simply not worth the money (that they owe) any more and it is in the ownership interest that it is dissolved and auctioned off. 

It looks horrible to the naked eye but there are many things to take into consideration. 

Anyhow, as Dev said, the most important thing for us currently is that none of this destabilizes the squad and the staff.
(02-19-2018, 03:03 PM)nefremo Wrote: [ -> ]The thing is, and I'm not defending Yonghong here, that the 2 companies that are going to auction because of unpaid debts have nothing to do with Milan. Yonghong has 11% stake in one of them. This happens a lot and I'm not sure that we can just assume the guy has no money because he won't pay a debt for a company in which he owns 11% of. Maybe that company is simply not worth the money (that they owe) any more and it is in the ownership interest that it is dissolved and auctioned off. 

It looks horrible to the naked eye but there are many things to take into consideration. 

 I completely agree with you. Rich people buy and sell companies all the time.
True. Many times the better option is to liquidate the assets and get out. No sense in pouring more money in a company that's making losses while all you are doing is paying off it's debts. This is the sole reason why corporations exist to begin with. This situation has absolutely nothing to do with Li's financial stability or power. 

Having said all that, I am not saying the guy is financially stable. I have no idea. I'm just commenting on this one piece of news and how the media are making it seem like the guy himself is bankrupt. Very misleading story. 

As I've said many times, my opinion is that there are others involved in this deal. I don't think Yonghong Li is capable enough to pull off this operation by himself. He somehow managed to get 340mil in off-shore funds that the public has no idea where it came from. Notice, I say the public, because I'm sure the authorities know exactly where that money came from.
A little interesting thing I learnt just now, which is Mirabelli was born in Calabria. This really explains a lot about his character as people from this region are known for their "aggressive" nature. Gattuso is also from this region.
(02-19-2018, 06:00 PM)ACMILAN1983 Wrote: [ -> ]A little interesting thing I learnt just now, which is Mirabelli was born in Calabria. This really explains a lot about his character as people from this region are known for their "aggressive" nature. Gattuso is also from this region.

[Image: 228881.png][Image: v2-4701821994288884fda8151463ebbd4f_hd.jpg]

Grinundwech
(02-19-2018, 06:10 PM)xudong Wrote: [ -> ][Image: 228881.png][Image: v2-4701821994288884fda8151463ebbd4f_hd.jpg]

Grinundwech

Arguably the one making the fastest progress under Rino. It's a conspiracy I tell you  Sagrin
I have an Aussie Italian friend with Calabrese origins. Full of energy, loud and very entertaining. Kinda like our North Indians, who as it is share way too many things in common with Italian people.