AC Milan Owner Issues Statement to Deny Bankruptcy Claims

Milan president and owner Li Yonghong has issued a strong statement to dismiss rumors of his personal bankruptcy.

Milan president and owner Li Yonghong has issued a strong statement to dismiss rumors of his personal bankruptcy as 'fake news'.

Italian newspaper Corriere Della Sera claimed that Li Yonghong was having so sell his assets in order to eradicate his debts.

However, the president's statement, Issued on Milan's official website, reads: "In the last 48 hours I have seen that some fake news has been reported in the media that has damaged the Club, my companies, my family and myself. 

"Since I bought Milan I have faced every kind of difficulty and endured unprecedented pressure. Following these rumors and fake news, I wanted to create a peaceful environment around the team and society.

"We do not understand what purpose these rumors have, but they have now come to the point of damaging heavily the Club, my societies and my family. 

"Therefore I would like to take this opportunity to explain, wishing that it is the last time, that the situation concerning all my personal resources is completely healthy and that both the Club and my companies are working regularly. I therefore hope that no credibility is given to news that is not true.

Official statement: President Li Yonghong 👇🏻https://t.co/nmIuwNm7Ev

— AC Milan (@acmilan) February 20, 2018

He goes on to say that he hopes media attention turns to 'the management and growth of the team' and urges fans to support manager Gennaro Gattuso.

Li Yonghong also told fans he 'experienced every kind of feeling and emotion' and has thanked all of his staff now that 'the team is enjoying an excellent time'.

Closing his statement, the president writes: "Thank you all. Finally, for my part and for my wife, I would like to wish you a happy new year, excellent health and success at work."