Chinese Government May Pull AC Milan Owner's Investment In Club

Serie A side AC Milan Owner Yonghong Li "could see his investment in the club recalled" by the Chinese government as part of its "crackdown on foreign expenditures," according to 90MIN. The businessman purchased the club along with Sino-Europe Sports earlier this year, but his partners backed out and Li completed the €740M purchase "thanks to a loan from U.S. hedge fund Elliott Management." There will be a congress on Oct. 18 where the Communist Party "will announce new restrictions on foreign investments." As reported by Libero, via Football Italia, "the Rossoneri could find themselves in a spot of bother," with €200M ($234.6M) in danger of being recalled. Milan needs to pay back Elliott's €253M ($297M) by next October. If it is not paid, all or part of the club is "in danger of being transferred to the hedge fund." Li is understood to be "after securing other investors to help share the financial burden, a means of getting round the difficult situation" (90MIN, 10/5).