Yonghong Ligetty images
AC Milan Owner Yonghong Li dismissed reports that he has been declared bankrupt in China as "fake news," according to the AFP. Chinese businessman Li, who purchased the Italian club for €740M in April '17, was responding to reports that he has been ordered to auction off his assets to repay unpaid loans to two banks. Italian daily Corriere della Sera claimed that the 48-year-old entrepreneur was "already insolvent at the time he purchased the club" from Silvio Berlusconi. Li said, "I have seen that over the past 48 hours, some media have irresponsibly reported fake news that has damaged the club, my companies, my family and myself. We do not understand the purpose of these allegations but they have now reached the point where the club is severely damaged by them and so are my companies and my family. I want therefore to take the opportunity to explain -- hoping this will be the last time -- that the situation concerning my assets is safe and sound and that both the club and my companies are steadily working" (AFP, 2/21). ESPN.com's Ben Gladwell reported Li said that he hoped "attention can be focused on what we all care about, as in the management of and the improvements of the team, and that we all keep supporting coach Rino Gattuso." Milan has earned 16 points from the last 18 possible to move to within eight points of the top four of Serie A (ESPN.com, 2/21).
