Former AC Milan owner Yonghong Li declared bankrupt

Originally posted on Football Italia | By Susy Campanale | Last updated Nov 12, 2025 11:49 AM ET

Former AC Milan owner Yonghong Li, who bought the Serie A club from Silvio Berlusconi in 2017 and lost control a year later, has been declared bankrupt.

The Chinese businessman raised eyebrows when he purchased the Italian team from Berlusconi in April 2017 at a cost of over €500m.

This was largely achieved thanks to a loan worth €303m plus a very high interest rate from Elliott Management.

Yonghong Li tenure at AC Milan was brief

MILAN, ITALY – APRIL 14: (L-R) AC Milan new board member David Han Li, new AC Milan Owner and President Yonghong Li, new AC Milan CEO Marco Fassone attend a press confernce to unveil AC Milan new owners on April 14, 2017 in Milan, Italy. (Photo by Studio Buzzi/AC Milan via Getty Images)

When Yonghong Li failed to keep up repayments on that loan, US-based vulture fund Elliott effectively repossessed AC Milan in July 2018.

The entire process was one that left plenty of unanswered questions.

Now a tribunal in Hong Kong has made a bankruptcy order against him, regarding a debt worth $280 million (circa €250m), and a hearing is set for January 2026.

Calcio e Finanza analysed the paperwork and noted that five investment funds had taken action against the Chinese businessman.

Specifically, the Rossoneri Advance Co. Limited was a business used to provide bonds during the purchase of AC Milan in 2017, and that is the company declared bankrupt.

This article first appeared on Football Italia and was syndicated with permission.

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