By Daily Sports on December 16, 2017
AC Milan face penalties from Uefa after European football's governing body said on Friday it had failed to strike a deal with the Italian club over its spending.
Seven-time European champions Milan have run up losses of 255 million euros ($300 million) in the last three seasons, way above the €30 million permitted by the rules that are designed to stop clubs from over-spending.
"After careful examination of all the documentation and explanations provided, the Chamber decided not to conclude a voluntary agreement with AC Milan," a Uefa statement said.
The key concerns focus on the takeover of the club by Chinese businessman Li Yonghong.
Uefa said: "There are still uncertainties in relation to the refinancing of the loans to be paid back in October 2018 and the financial guarantees provided by the main shareholder." © AFP
•Photo shows AC Milan players.
Source Daily Sports
Posted December 16, 2017
You may also like...
Joseph Parker trying to 'demonise' me- Joshua
Sturridge Set For Big-Money Turkey Move
Mourinho labels Ronaldo’s Man Utd move mission impossible...
Okonkwo, Wakama rewrite AfroBasket history
Chiellini Signs New Juventus Deal
Liverpool Held by West Ham to Boost Hopes...
WCQ: Chelle claims DR Congo official used voodoo during penalty shootout
Anyanacho wins bronze at Islamic Game
FirstBank secures partnerships for Lagos Open
Nigeria wins best country crown at World Scrabble Champs
Our best wasn’t enough, Nwabali laments DR Congo defeat
'One of the best in Africa' - DR Congo coach admits Leopards are not on Super
We can’t celebrate yet – Chelle
Eagles coach deserves praise – Adepoju
.jpeg)
Osimhen leads Nigeria’s push for World Cup lifeline
Islamic Games: Nigeria celebrates boxing, weightlifting medals
African U-20 champ Oyibu joins Baylor University
Nigeria 4-1 Gabon: Eagles soar into World Cup playoffs final
Most Read
Rangers International going, going . . . (63,344 views)
Amaju Pinnick: A cat with nine lives (54,568 views)
Second Term: Amaju Pinnick, Other NFF Heavyweights Home to Roost •How Pinnick Broke the Jinx (52,506 views)
Current issues in Nigerian sports: Matters arising (52,134 views)
Sports Development: Zenith Bank on the zenith (52,126 views)
Missing $150,000 IAAF Grant: Solomon Dalung’s Hide and Seek game (52,048 views)
Gov. Abdullahi Ganduje’s solid footprints, commitment to sports development in Kano State (51,888 views)
NFF Presidency: Pinnick, Maigari, Ogunjobi, Okoye in Battle for Supremacy (51,474 views)
Olopade, BET9A wave of revolution in NNL (50,595 views)
Commonwealth Games 2018: Shame of Muhammadu Buhari, Solomon Dalung (49,170 views)
Ibrahimovic’s Man U exit: Whose decision is it? And in whose interest? (47,555 views)
John Mikel Obi: Segun Odegbami’s Outrageous Call! (47,037 views)