European football’s top financial investigators have reportedly recommended excluding A.C. Milan from continental competition for violating rules that limit spending, according to the New York Times.
When purchasing the storied club last year from Silvio Berlusconi, Chinese businessman Li Yonghong had to take out high-interest loans from Elliot Management.
“A ban from continental competition is now likely, according to the two people, who spoke on condition of anonymity,” the report said.
UEFA has said that the club’s plans to repay Elliott Management remain uncertain. Under the terms of the loan, the hedge fund could take control of the club if Li does not repay on time.
A final decision from UEFA on Milan participating in the Europa League is expected in early June.