Italian media: Stephen Ross linked to possible takeover of AC Milan

Stephen Ross may yet have his soccer team, just not quite the Major League Soccer outfit he may have imagined.

According to Corriere dello Sport – Stadio, one of Italy’s major sports newspapers, Ross has inquired about the ownership of legendary Serie A club AC Milan.

The possibility of Ross’ ownership of I Rossoneri stems from difficulty under current chairman Li Yonghong. Li has failed to secure financing through American hedge fund Elliott Management Corporation, which issued debt to Li previously. According to Forbes, Li has failed to pay interest on debt taken on when the club was acquired in August 2017. According to Sports Illustrated, Li even attempted to refinance the debt using cryptocurrency Bitcoin.

Ross’ background

Ross is no neophyte when it comes to soccer in general, or European soccer specifically. Back in 2013, Ross was linked with Major League Soccer bringing a team to Miami before the David Beckham bid was formally announced. In recent years, Ross has founded the International Champions Cup with the intent of bringing major international club friendlies to the United States. This culminated last July with the El Clasico Miami between Barcelona and Real Madrid at Hard Rock Stadium.

It’s unclear how far along any kind of takeover may be. Corriere dello Sport – Stadio indicates that there have only been “discussions” between Ross and Elliott. However, if Li is not current on his loans, the hedge fund may try to force a move in the offseason.

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