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.
“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.