Prosecutors investigate Chinese businessman Li Yonghong’s purchase of AC Milan: reports

Italian police force looks into 2017 sale of Serie A soccer club after Bank of Italy flags ‘suspicious transactions’, according to Gazzetta dello Sport

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AC Milan owner Li Yonghong (right) with former club president Silvio Berlusconi in 2017. Photo: AFP

Published: 10:22am, 22 Mar 2018Updated: 10:22am, 22 Mar 2018

Italian prosecutors have opened an investigation into the sale of AC Milan to Chinese businessman Li Yonghong following claims of suspect financial dealings, according to reports on Wednesday.

It follows three “reports of suspicious transactions” transmitted in recent months by the Bank of Italy financial information unit to the Guardia di Finanza – the Italian police force that deals with financial crimes – Gazzetta dello Sport newspaper reported.

Milan deputy prosecutor Fabio De Pasquale, in charge of “international affairs-transnational financial crimes”, has opened a specific type of file that is without either criminal offence or suspects.

The file contains information relating to last year’s sale as reported to the Guardia di Finanza.

AC Milan’s Portuguese forward Andre Silva (centre) celebrates with his teammates after their win against Chievo at the San Siro. Photo: AFP

Milan were sold in April last year by former Italian prime minister Silvio Berlusconi to a Chinese-led consortium for €740 million (US$913 million) with the use of offshore funds.

Since then, there have been questions about the financial stability of the consortium that subsequently went on a €200 million summer spending spree on new players.