Monday, November 19, 2018 | ePaper
China blacklists former AC Milan owner over unpaid debt
The former Chinese owner of AC Milan has been added to China's blacklist of untrustworthy individuals over millions of dollars in unpaid debt, according to a local court, which ordered that his passport be confiscated.
Li Yonghong emerged from obscurity to purchase one of Europe's most high-profile and decorated football clubs from former Italian prime minister Silvio Berlusconi in 2017.
He was one of dozens of wealthy Chinese investing in or simply buying up some of the sport's biggest clubs after President Xi Jinping declared he wanted to turn China into a football superpower.
But Li's control of AC Milan was plagued from the start and this summer a creditor took over the club.