BSP-14 AC Milan face Europa League ban – report

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AC Milan face Europa League ban – report

MILAN, June 1, 2018 (BSS/AFP) – European football’s top financial
investigators have recommended excluding Chinese-owned AC Milan from the
Europa League next season for violating rules that limit spending, the New
York Times reported on Friday.

According to the US daily newspaper, “two people involved in the process”
have confirmed that UEFA investigators have recommended Milan be excluded
from European competition for violating Financial Fair Play rules.

UEFA announced last week that the seven-time European champions had
failed to convince officials they are financially sound and referred the case
to the adjudicatory chamber of its financial control unit to recommend an
appropriate punishment.

A decision is expected next week and according to the New York Times
investigators “have recommended excluding .. AC Milan from continental
competition”.

UEFA are concerned over AC Milan’s stability after it was purchased by
Chinese businessman Li Yonghong from Silvio Berlusconi for 740 million euros
($918mn) in April last year.

The club also spent more than 200 million euros on new players in the
summer and have a massive high interest loan of 300 million euros from US
hedge fund Elliott Management.

Milan finished sixth in the Serie A last season and qualified for the
second-tier Europa League for a second consecutive season missing out on the
money-spinning Champions League.

If Milan were excluded they would become the highest profile club
banished from Europe, following Spanish club Malaga, Red Star Belgrade and
Turkey’s Galatasary who were banned for a year in the past for failing to
meet financial criteria.

BSS/AFP/RY/1734 hrs