AC Milan could miss Europa League over alleged Financial Fair Play breach
FFP was introduced in 2011 to tackle European football’s chronic debts and over-spending. Its central principle is that clubs must “break even,” or spend only what they bring in, although some additional investment from owners or investors is allowed.
The concerns around AC Milan are related to their owners’ ability to repay loans they took out to finance the purchase of the club.
American hedge fund- Elliott Management is reported to have loaned Rossoneri Sport, which is fronted by AC Milan president Li Yonghong, more than £250m and these loans must be repaid by October, together with more than £40m of interest.
In particular, the investigatory chamber is of the opinion that, among other factors, there remains uncertainties in relation to the refinancing of the loan and the notes to be paid back in October 2018.”
It added that the adjudicatory chamber will make its decision “in due course”
If they are found to have truely breached the rules, the Italian giants may find themselves in the danger of being be banned from participating in European competitions.
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