The Chinese owner of Serie A side AC Milan is "looking for one or more investors to share the financial burden, less than six months after buying the loss-making Italian club," two sources said on Friday, according to Elvira Pollina of REUTERS. Former Italian PM Silvio Berlusconi finalized the sale of AC Milan in April to a Chinese-led consortium headed by Li Yonghong in a €740M deal, the biggest Chinese investment in a European football club. But Li has since "effectively become the sole investor after his partners backed out following Beijing's crackdown on foreign acquisitions," especially in football, according to a source close to the matter. The source said that Li would be "more comfortable sharing the financial risk associated with managing and investing in the club," which lost €75M in '16 and is "expected to remain in the red for this year at least." A second source said that "one option being considered to lure potential new investors, including Italian ones, was a Chinese market listing within a couple of years." The first source said that other Chinese investors "could emerge if the authorities soften their stance on foreign investment" after the Chinese Communist party congress starting on Oct. 18 (REUTERS, 9/29).
