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AC Milan face financial fair play sanctions

AC Milan may be banned from European competition for breaches of financial fair play rules. They had been hoping to negotiate a voluntary agreement with Uefa to restructure their finances. The concerns relate to loans the owners, a Chinese-led consortium, took out to finance their purchase of the club: AC Milan

The club's general manager Marco Fassone said, 'We are very surprised and bitter about this news. I was expecting UEFA to offer us a settlement agreement. This has only happened once in the past involving a Russian club. UEFA said that the fact that the debt wasn't refinanced yet casts shadows. We continuously paid the debt during the season without any doubts so yes I am surprised.'

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