Chinese owner wants more for AC Milan

The Chinese owner of AC Milan, Li Yonghong, has valued the club at €700m (£620m) and has ruled out a quick sale for a much lower valuation to US television tycoon Rocco Commisso: Financial battle going down to wire

Comisso's bid values the club at around €500m including debt.

AC Milan and Li have a total accumulated debt of 308 million euros towards US investment fund Elliott, which lent 180 million euros to Li and 128 million euros to AC Milan to fund the acquisition of players and repay the club's debt with banks. €32m is due for repayment by July 6th or Li could lose control of the club.

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The Political Economy of Football V2

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