AC Milan owner Yonghong Li and Rocco Commisso are close to finalising a sale that would see Li retain a 30 percent stake in the club.
After a frantic 24 hours where it appeared relations between the two negotiators had broken down, new headway has been made and a deal looks close to being agreed.
According to LA Gazzetta dello Sport the offer from New York Cosmos owner Commisso is thought to exceed €500 million, encompassing Li’s debts to Elliott Management.
Crucially for Li are the new terms that will see him retain a 30 percent share in Milan, who is understood to be making a loss of €300m in striking a deal with Commisso.
Commisso, who migrated to the United States from Italy aged 12, has plans to appeal Milan’s exclusion from the Europa League and the more long term the construction of a new stadium.
Li is under increasing pressure to sell with Elliott demanding the return of outstanding loans and UEFA deeming his finances to lack ‘credibility’.
Source: forzaitalianfootball.com