Berlusconi: ‘Milan have financial problems’

Silvio Berlusconi warns “there are already some financial problems” at Milan, and says “I’m worried by Mr Li’s silence”.

The former President sold the club to Yonghong Li in April, and a major summer transfer campaign followed.

However, the purchase of the club was funded by US hedge fund Elliott Management, who will take control of the Rossoneri if their loan is not repaid.

“I know there are already some financial problems,” Telelombardia quotes Berlusconi as saying.

“I’m worried by Mr Li’s silence. If the team continues to do so badly then it’s possible the Elliott fund will take over in the spring, but the real problem is they’ll be over €100m in the red without the Champions League.

“Whoever would buy the club certainly wouldn’t have to pay much compared to its real value, but they’d have to heal it after some very heavy years.

“It’s not a nice prospect.”