Milan postpone capital increase

By Football Italia staff

Milan released a statement confirming the increase in capital has been postponed to April 13 after Yonghong Li missed the first deadline.

The €10m from China was meant to arrive by tomorrow morning, at 17.00 Italian time (15.00 GMT) on Wednesday April 4.

Amid reports the funds had still not been transferred this evening, the club released a statement to its shareholders.

It confirms the increase in capital has been postponed until 17.00 Italian time on April 13.

They remain confident that the necessary funds to keep the wages paid will arrive by this new deadline.

There is another issue on the horizon, as the total sum to be paid in order to balance the books by June 30 is €37.4m.

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