Much has been written about Yonghong Li and where he gets
his money from. Also whether or not he has any. And who he is. And really, just
so many things. In fact, there is so much more speculation than research on these
subjects that even UEFA has
bought into the uncertainties, even if he has given no actual reasons
for all of the questions. It’s like questions are more important than answers.
Which shouldn’t be that surprising, because it’s all about the money.
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| Paper by any denomination would smell as sweet |
We all had questions about Yonghong Li when he first entered
the bidding for Milan. As a part of the consortium eventually called Sino
Europe Sports, he was the only common denominator that stuck with the purchase
of the club. It took him eleven months in all, and losing all other partners,
but he finally made it happen, even if it took some unorthodox financing.
But here’s what people forget: Despite all of the delays in
the purchase, he’s made all of his scheduled payments and capital increases
since then. And despite this, the media have bought into poor efforts at
journalism and questioned every payment. There is more written about him that
is untrue than there is that is actually factual. And I don't know of any other club where the media constantly monitors the bank account and capital increases from an owner.
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| Lies have more power than truths |
So now, every time there is a payment due, the media write
about it with hourly updates. One week out: “The payment is still not here.” Then
two days before it's even due, “Yonghong Li is late on his payment, such-and-such investor ready
to purchase the club.” Oddly enough, they fail to report when it actually does
arrive. On time, and in full. But it gets even better. Now they talk about the
Elliott Fund ousting him if he makes a late capital investment. Did anyone ever
pursue an education?
The Elliott Fund debt is debt. Period. They have no actual control
over the club unless the loan is in default. And the loan is not even due until
October. So they would have no power to remove Yonghong Li from the club or the
board until they have majority shares transferred to them by the defaulted
loan. But don’t let facts stop the journalists.
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| Anyone can write lies, it takes integrity to find the truth |
This debt is a little unusual in that it is reported that
there were some unique stipulations added, such as allowing representatives of
the Elliott Fund to observe and give input in the operations of the club. Just
to protect their investment, though. They don’t have any actual power when it comes
to AC Milan. The only power is in the words that are said about the financial
situation, and that power is impressive, because even UEFA seem to believe
their lies. The media have abused that power to the point that it has seemingly irreparably damaged Yonghong Li and AC Milan's reputation. Talk about irresponsible journalism.
I don't know the all of the actual truths about Yonghong Li or his money. I do know that he has kept his word and his financial commitments since the purchase of the club. Which is something worth reporting. But shhh… don’t tell “journalists,” then they might feel an
urge to be truthful and actually report facts. And facts don't make them as much money. Please don’t tell social media, either, these facts would spoil all of their fun. Besides, what would they post about then?
The mercato? Please. It’s all about the money.
This post inspired by the music of Love
and Rockets’ “No New Tale to Tell”