Milan’s Chinese owners take high-risk gamble in search of lost glories | Ed Aarons


Milan, now owned by a China-backed holding company, need to qualify for next year’s Champions League to pay back huge debts, some at 11.5% interest, to a US private equity fund

When Marco Fassone was contacted last summer by someone claiming to represent the latest Chinese businessman looking to invest in one of Europe’s most successful clubs, the likable 53-year-old, who has held senior posts at Juventus, Napoli and Internazionale, was unsure what to make of the approach. “I came into the project with some doubts at the beginning because I wanted to understand exactly what their vision was and why they wanted to make such a huge investment,” Milan’s chief executive explains to the Observer. “It was important for me as a European to understand what is the vision that Chinese entrepreneurs can have behind their dream. After month after month working with them, I started to understand their vision. It is a very exciting project.”

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