'Li lost €500m from Milan takeover'

By Football Italia staff

Silvio Berlusconi’s brother was ‘stunned’ by Li Yonghong’s failed ownership of Milan, claiming the businessman ‘lost €500m’ from his takeover.

Li lost Milan to Elliott Management after he defaulted on a €303m loan, and Paolo Berlusconi sympathised with the Chinese, who ‘behaved very well’ during his initial talks with Silvio and was ‘abandoned’ by other members of his consortium.

“I was stunned, he behaved very well with us and paid everything he had to pay,” he told Top Calcio.

“There was also a lot of fair play from Silvio. [Li] had inconsiderately paid a deposit of €200m without paying the remainder before the scheduled date, but my brother gave him time.

“The Chinese government has changed philosophy. Li Yonghong was left alone, abandoned by his fellow travellers.

“He found himself in trouble and didn’t even sell to Commisso. I never met Li Yonghong, but he disappeared because he lost €500m: it’s incredible but it’s the pure truth.

“I’m pleased to have Scaroni as President. He’s a great person and figure: I know Elliott and Singer very well.

“The declarations of Leonardo and Maldini are reassuring. We can only be happy.”

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