So it appears that UEFA was very, very concerned about not only the money that was spent by Li and previous regimes at Milan, but by the ludicrous business plans that were presented to the UEFA by the club.
All of this speaks to the sheer incompetence of the former owner, Yonghong Li. He came out of nowhere to buy the club, got loaned an obnoxious amount of money by a hedge fund to complete the deal, spent gobs of money fairly unwisely, and when pressed to explain how the club would make money to cover the debts, Li and the brass at Milan just seemed to make up numbers that sounded good.
While being owned by a hedge fund that has been described as a “vulture” fund might not be ideal, it’s still better than being owned by Li.
On to the links.
AC Milan and Italian Football Links
Juventus landing Cristiano Ronaldo has all of the kinds of financial shenanigans that fans of Serie A have come to expect from Juve. [Viola Nation]
Riccardo Silva is the latest name to be linked with an interest in purchasing AC Milan. [AC Milan Offside]
The Milan away kit launch party was a smashing success, except that Calhanoglu had his name misspelled on the back of his kit. [AC Milan Offside]
Juventus officially signed Cristiano Ronaldo from Real Madrid for €100 million. [Black & White & Red All Over]
World Football Links
Mexico’s Miguel Layun will sign for Villarreal from FC Porto. [FMF State of Mind]
France beat Belgium to go to the final of the World Cup. [BBC.com]
Lucas Torreira signs with Arsenal. [The Short Fuse]
Riyad Mahrez has joined Manchester City from Leicester City for £60 million. [BBC.com]
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