21 July 2018

Italian club changed its owner...again

Italian Serie A team Milan have new owners. From last Wednesday new proprietor of the club is the American investment company Elliott who have bought them from Li Yonghong. Last year in April this Chinese businessman borrowed money from the firm to buy the Italian giants, but failed to pay 31 million euros by 07 July. Thus Elliott management took over his majority shares, which also announced and promised financial injection of 50 million euros.
Due to financial fair-play rule last month the team was kicked out from European Cups in the next two seasons. The court of arbitration for sport have received their appeal and supposed yesterday to give the verdict, however the decision was postponed for today. In Lausanne it was decided that this case was 'too harsh and unproportional'. Therefore the overturned decision is now back to UEFA which have to react quickly, as the qualifying round at Europa league (which Milan has earned right to play) already started.
And the third news related to this team is the change of kits. Adidas was supplier of this club for 20 years, and now the new equipment manufacturers will be Puma.


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