AC Milan CEO says UEFA sanctions inevitable

MILAN: AC Milan managing director Marco Fassone said Friday he expects UEFA sanctions will be imposed on the club for violating financial fair play rules.

Representatives of the Chinese-owned club including Fassone and executive director Li Han met with members of UEFA’s Control, Ethics and Disciplinary body at European football’s headquarters in Nyon on Friday.

“This is the third time we have met this committee. We have given an update on how this season has gone from an economic perspective, which is indeed better than had been expected,” Fassone told Sky Sport Italia.

“We have planned ahead for the next few years, and explained how Milan intends to respect Financial Fair Play regulations.“Now we’re waiting for them to reflect and give our plan the green light.“We gave them peace of mind. Lenders have reassured UEFA on the negotiations which are underway at the moment.”

UEFA have voiced concerns over the financial stability of the club which was purchased by a Chinese-led consortium from Silvio Berlusconi for 740 million euros ($918mn) last April, spending more than 200 million euros on new players in the summer.

The seven-time European champions have a massive loan for repayment and are working to refinance more than 300 million euros in high-interest loans from US hedge fund Elliott Management.Fassone claimed his regime were paying for Berlusconi’s mismanagement.