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Milan have new Chinese owners but doubts grow over Li’s resources | Ed Aarons

Li Yonghong completed his takeover, but does he have the cash to take on Serie A – and why did he take out a €300m loan from a US private equity fund?

It was the photo opportunity they were all waiting for but the handshake between the mysterious new co-owner of Milan and representatives of Suning, the Chinese conglomerate who purchased Internazionale last year, never materialised. Eight thousand miles away in Beijing, as the two clubs with 36 scudettos and 10 European Cups between them played out a 2-2 draw at San Siro last month, tongues were already wagging.

Confirmation Li Yonghong had completed his protracted takeover of Milan a few days before the derby della Madonnina was also greeted with scepticism by some in the Italian press. Far from being the beginning of a shiny new era that had been painted by the former owner Silvio Berlusconi after more than three decades at the helm, Alberto Costa, the experienced Milan correspondent for the Corriere della Sera, admitted on Italian television he had major doubts over the new owner.

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