Commisso’s official statement: “It appears that the current ownership of Milan is not willing to conclude a deal on acceptable terms in a timely manner”

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Rocco B. Commisso and Doug Halloway during the 34th Annual Walter Kaitz Foundation Fundraising Dinner at Marriot Marquis Times Square on September 27, 2017 in New York City. (Photo by Larry Busacca/Getty Images for The Walter Kaitz Foundation)
Rocco B. Commisso and Doug Halloway attend the 34th Annual Walter Kaitz Foundation Fundraising Dinner at Marriot Marquis Times Square on September 27, 2017 in New York City. (Photo by Larry Busacca/Getty Images for The Walter Kaitz Foundation)

Rocco B. Commisso’s team has released an official statement, claiming there are currently no conditions to make a deal, but the American is still hopeful of a positive conclusion to the negotiations.

Talks have been ongoing between Rocco Commisso, the founder and chairman of MediaCom, and Yonghong Li, the President of Milan, over the acquisition of the majority stake of the club.

A deal was supposed to be concluded during the week, but Sky reports this evening that Yonghong Li decided to reject the offer of Commisso, who is said to be valuing the acquisition at €500m while offering to leave Li 30%.

And so, Commisso’s team has decided to release an official statement to give their view of the things:

“As numerous press reports and social media accounts have publicly suggested, Rocco B. Commisso has been negotiating to purchase a controlling interest in AC Milan. Many of those reports and accounts have contained statements about Mr. Commisso and the negotiations that come from unspecified sources and have not usually been accurate.

“Until now, Mr. Commisso’s team has refrained from making public statements about the status or substance of the negotiations in order to preserve an atmosphere conductive to concluding a deal. However, Mr. Commisso believes that the time is right to let the millions of AC Milan fans know exactly where things stand.

Yonghong Li and Han Li during Milan-Inter at Stadio San Siro on December 27, 2017. (@acmilan.com)
Yonghong Li and Han Li during Milan-Inter at Stadio San Siro on December 27, 2017. (@acmilan.com)

“Mr. Commisso has worked tirelessly with the assistance of his advisors to formulate and negotiate a transaction beneficial to this historic club, its loyal fans, the current ownership and the community of Milan. Despite his best efforts and genuine belief that an agreement had recently been reached, it appears that the current ownership is not willing to conclude a deal on acceptable terms in a timely manner.

“Given Mr. Commisso’s passion for the game of soccer and ties to his native Italy, this is an extremely unfortunate situation for him personally. However, he hopes that the end result of this process leads to a stable and successful future for this iconic club.”

Negotiations are believed to not be over and Sky claims that Commisso is willing to negotiate the deal in person instead of relying on representatives. The 68-year-old, who was born in Calabria and migrated to the United States at the age of 12, remains the leading candidate to buy Milan.

The sooner the saga is over, the better for Milan, as a new owner can be of tremendous help in their appeal to CAS. But Yonghong Li continues, at least for now it seems, to hold the club hostage.

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macho

Wtf wrong with this Li guy ?please sell my beloved club and lets us save ourselves from this disgrace

ak

We have to hope Commisso can close this deal quick. This summer is crucial for our future, if we don’t make the CL I expect our big players, like Bonucci, Donnarumma, and Suso all to leave. Yonghong Li is simply trying to make money out of the club, he doesn’t expect to be the majority owner by next year so making the CL or not has little impact on him. We need an effective transfer market, if this sale doesn’t happen soon I can’t see that happening. I hate to say it but I’m starting to lose some hope in… Read more »

Law

Smh. Just wow. This Li guy should’ve lost control of the club and it should’ve been given to the American who lent them the money (Elliots I believe their names were). I’m positive they would’ve sold it and been happy. 500Mil and 15% of the club is more than enough. 30% is just them trying to stay relevant and gets some kind of income.

Mr.g

REVOLUTION we are a joke. Kick the asian out. No money for his lies

Jibola

I said Li is playing poker with Milan but someone said I was wrong. Well, how frustrating is it that we found a passionate buyer and he’s refusing to sell when obviously he doesn’t have the fund to finance the club.

The minority shareholders have written 2 separate letters to Li to either show the he’s financially capable to finance the club or sell but he has decided not to reply them.

This guy is probably here to ruin Milan.

Jayden

He has no financial means to buy Milan right from the start but the fact is he did invest a total of 550 million in Milan. This 550M does not include the 300M loan from Elliot. What poker game? Do you play 500M for a poker game? If he is playing poker what is he trying to win? Everybody knows that he won’t get a better deal than this and obviously he knows as well.

Lord bonera

It looks like biggest scam of the century. berlu made his black money White with the help of agent li. He got good commission from that. Now, he has become agent of Elliott fund by not selling the club to any party so that he can get another good commission from Elliott. In turn, Elliott will take control of the club on 6th July and will sell to the highest bidder. Win win situation for all berlu, li, Elliott. Only loser is our beloved milan.

ForeverMilan

Lord bonera, your words don’t make sense. Money launders operate secretly far away from limelight. If Berlusconi or anyone is laundering money, they won’t choose such a high profile deal especially such a huge amount that garner media attention. If Li is laundering money for anyone, he should be in jail by now as China is a country whereby millionaires and billionaires are detained without trial with no concrete evidences or reasons. So Li should be in jail by now for laundering 500M. To say that Li is taking instruction from Elliot in return for a big commission is crazy.… Read more »

Gman

Money laundering can happen anywhere. Especially a place you’d never expect it to happen. Hidden in plane sight. A really genius move from berlu, if it’s true. I did mention this as a possibility a year ago and them there was a troll clown fish here called ”ck” who tried to ridicule me

Emmy Apache

Macho and Law u guys are ungrateful fans because u have forgotten so soon
Mr Li bought Milan for 740 millions but u want him to sell for 500m?
Why didn’t u buy ur darling club?
Rubbish

Successor

ROSSO I BUYING FOR 500M AND AND ALSO WILL BE PAYING THE SOME 308M Li own Elliot and he will also fund the summer transfer with bout 150m . He is not just buying for 500m …

Emmy Apache

Paying only 38million

John

Milan was sold to Li for 780mil. He invested close to 200mil. He paid interest in loans worth millions. I know we all want him to sell but He won’t sell at a loss that’s for certain. Commissio should put all this into consideration. I think they can strike a deal. And for some fans shouting Li should sell, just 9 months ago u all were here praising same Li. Li gambled and it didn’t work but He made me have hope and for that I will always b grateful

Successor

As situation of things are right now, if he did not sell, then he might losing everything cuz Elliot will take over and he wont get 500m Rosso is willing to pay and 30% share he will be keeping … He need to act smart now but i think thee are some group of people behind all the delay and turn down.. he was being offer 15-20% but requested for 25-30% and he got it, how on earth will he have to turn it down for the 3rd time in a roll.. when he knows he dont have the capital… Read more »

Milanmario1

John, if I’m not mistaken the 200m spent on transfers are loans against the club. Li has bought the club for 740m including some debts approx another 160m and the loan of 180m from Elliot plus the last 32m. So now he is getting 500 plus the loans to Elliot settled. How can he be at a loss when the guys hasn’t got any money for the club? Come October he needs to pay Elliot so there is a high chance that he’ll lose the club or more money by getting another stupid loan to cover the current one. This… Read more »

ForeverMilan

Milanmario, 200M is against the club but it is secured by the pledged assets put in by Li. If the AC Milan fails to pay up ( for example the installments of Bonucci or Kalinic loan with obligation to buy) the bank liquidates whatever Li pledged to repay the club.

macho

emmy or whatever u call ursef stop chatting rubbish cant you read what Mr Commisiso said?

Emmy Apache

Macho or what u claim to be because that’s not a suitable name
Can u be grateful for once and stop jumping from one owner to another?

Misund

I think that elliot is the one preventing the deal. Li wants to keep some percentages of the club, but Li have not yet delivered on payments hence Elliot will not let him keep any until he actually pays up. Li is probably trying to negotiate with elliot “If you let me sell ill pay you back the rest of the money for the % i want to keep. But elliot say “No, I will not let you break our deal. We will lose money and can earn alot more to stick to the current agreement” Mr Li will have… Read more »

Misund

Milan offer Suso to Real for 40 mill and it seems we are willing to let go of bonucci for about the same sum(its no coincidence). If one of them go, the deal with Commisso will go through pretty quickly, mark my words.

Successor

I am not sure bout Bonucci leaving for now, The signing of the Croatia guy brings bout offering Suso To Madrid to cash in some money and might be use to balance the 32m Li had to pay by early July.. who knows

ForeverMilan

Misund. How to dictate Li when Li has put in 550M and he knows that if he doesn’t pay Elliot in October, he losses 550M. Elliot may be trying to tell Li not to sell so that they can repossess in October but Li can’t be this dumb to listen to them. Losing 550M is no joke Milan offered Suso to Madrid for 40M is a joke as well. Of all team you offer to a 3 consecutive CPL champion. Suso can’t even make their bench. Even if Suso is discounted at 10M, Madrid has no need for him so… Read more »

Misund

Because Li cannot break of their agreement when he is late on payments. Once he have, he will be able to decide if he want to sell or not. Or it will be breach of contract that is why Elliot can dictate him until he sticks to the current agreement. Also Commisso said that elliot where a problem at this moment. Maybe thats why Commisso would like to speak to him directly, to offer him a personal loan and a way out. i’m not sure of nither of them leaving, but one of musa and bonucci will leave. Its most… Read more »

Ck

There has been several late payments but only this 32M is being helped by Elliot and everybody knows that Li has until 6th of July to repay Elliot and failure to do so Elliot can take control of Milan. Why do you need such a secretive agreement with Elliot whereby the agreed offical date is just a 10 days grace period. There is nothing to earn alot more. If Li accepts the deal, Elliot receive 380M, Li receives 500M + 30% shareholding. If Li let Elliot takes control, Li loses his total investment in Milan which is about 550M. Elliot… Read more »

ForeverMilan

Li has various late payments but only this 32M requires Elliot’s help. However, we all know that the deadline for this 32M to be repaid is 6th of July. If Li fails to repay 32M to Elliot by 6th of July, Elliot can take control of Milan. Li has invested in total about 550M in Milan. With the deadline set at 6th July, 32M vs 550M, how can there be any form of agreement. Of course Elliot will be happy if Li fails to pay so that they can repossess Milan and aell to Commisso for a billion but will… Read more »

Misund

32m isnt much, but they have a contract. He can not break the agreement without losing more. He need to fatch the money or else lose everything. its that simple

Karese

Rumours suso wasn’t offered to anybody

Sheva

Marvelous Commisso!

sheve

F the Chinese! They are just opportunists and greedy!

IZUL-ARAB SHEHU

Comment: I remember what maldini said about the chinese when the bougth the club last year.

Ted

I think Li is only buying time to put together necessary 32 millions himself that’s why he is stalling with Commisso.

He does not want to sell majority and he also does not want to hand over the club to Elliott but he doesn’t have resources to run Milan so I do not know where this is going

HorneyBarney

What Zer0w mentioned, that club is held as hostage now. Li wants to keep the club, yet cannot run it. If he truly loved Milan as he was saying last year when he was buying it, he would sell it to Comisso by now. How much i hate Doomsayers, this time they might be correct. This it, the turning point for Milan. Either we go forward or go back backwards.

ZeR0W1

Holding the club hostage? Now that’s quite an interesting choice of words there I must say, Mr. Zeevi.

Milanellofm

So happy argentina are going out. They have made me mad all tournament long. How can you have stars like dybala higuain aguero on the bench and play meza perez and pavon. Such a joke. Even maacherano over biglia. Messi is obviouslh the best but has done nothing all tournament and i cant wait when he cries and retires and this team doesnt revolve around him and they start playing well again.

RK

I am glad as well. Higuain gets shit because he is a “choker” on the big stage but they really could have used a figurehead like him or even icardi up front. And dybala doesn’t get a sniff.

I’m watching this World Cup completely as a neutral since USA and Italy didn’t make it so I’m looking to see the best football and it was frustrating to watch Argentina went they weren’t using their best players.

dejan10

Me too. And Aguero don’t forget. What I really don’t get though is how England think they’re going to win just because they beat Tunisia and Panama.

nick

Lol. I was thinking that exact same thing. Bizarre

Milanista121

Argentina’s coach is a hero – doesn’t call up Icardi, calls up Dybala but let’s him rot on the bench:) #GoodGuySampaoli.

nick

Yeah, I don’t understand what He’s thinking. This team has so much world class talent and yet Perez and Pavon started ahead of Dybala and Aguero. Shocking to say the least

Milanista121

Haha, super weird. But hey, I dont care for Argentina, so Im happy;-) They should consider themselves lucky to even be in the WC, especially in the last 16 imo. Iran, Senegal, Morocco and Nigeria deserved to be in the last 16 more than Argentina. And Spain for that matter!

nick

Lol. Don’t know what Sampaoli was thinking. He started Pavon and Perez over Dybala and Aguero. Shocking!

imadala

cavani….deadly striker that we need

cuongminhtran

It seems clear that Li must sell the club simply to survive, but new owners who can solve club’s financial problems?
The Great ACM as we know it is dead and it will be a long road to its rebirth!

nick

I honestly can’t believe the mess Berlusconi has left Milan in. He made a profit of 611.5m when he sold Milan to some phantom Chinese businessman that nobody knows or heard of. What Shame to see Milan in this state.

Hopefully Commisso can close the deal and bring Milan back to glory.

Ted

Offtopic

There are reports Bonucci is leaning towards PSG (but not United) where he would reunite with Buffon and also Italy NT colleague Verratti

nick

I think Milan should cash in on Bonucci due to his age. Obviously our project is not going well and I would rather keep Romagnoli and Musacchio as they are much younger.

Ted

Also Donnarumma and Suso were not participating in presentation with Puma…

nick

Interesting. Well, as long as Donnarumma keeps Raiola as his agent, there will always be drama at Milan.

Reina is a very good goalie with a few years left in him so we are covered there. I don’t have any problem with Donnarumma leaving.

As for Suso, last season was not good for him and I think with Bernard being a free agent we are covered there as well to replace him. So he can leave too.

As long as Romagnoli, Cutrone and Calhanoglu stays I’m happy.