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...
Fury’s retirement in doubt as Joshua fight offer...
Ex-cyclist says sports caused his skin cancer
Boxer Dies After Suffering Brain Injury During Match...
Pinnick moves to convince Victor Moses to end...
Ekundayo confidence of Corcoran defeat
Joshua tipped to beat Whyte
England battle Norway as Argentina face Swiss in World Cup last eight
World Cup: Spain, France semi-final clash, final before the final – De la Fuente
African results justify World Cup slots increase amid criticism
Everyone expects Spain to beat us, says Belgium coach
Okoye backs France to win World Cup
Joshua, Fury opponents vow to ruin mega-fight plans
C’wealth Games: Olopade targets swimming, judo breakthrough
Teen girl dies celebrating France’s World Cup win
Balogun apologises to fans after US W’Cup exit
Eaglets suffer second defeat in China tourney
Alalshikh sets condition for Joshua, Fury Wembley fight
France urges calm during World Cup game against MoroccoFrance urges calm during World Cup game against Morocco
Most Read
Rangers International going, going . . . (63,947 views)
Amaju Pinnick: A cat with nine lives (55,285 views)
Second Term: Amaju Pinnick, Other NFF Heavyweights Home to Roost •How Pinnick Broke the Jinx (53,194 views)
Current issues in Nigerian sports: Matters arising (52,803 views)
Sports Development: Zenith Bank on the zenith (52,688 views)
Missing $150,000 IAAF Grant: Solomon Dalung’s Hide and Seek game (52,556 views)
Gov. Abdullahi Ganduje’s solid footprints, commitment to sports development in Kano State (52,445 views)
NFF Presidency: Pinnick, Maigari, Ogunjobi, Okoye in Battle for Supremacy (51,964 views)
Olopade, BET9A wave of revolution in NNL (51,178 views)
Commonwealth Games 2018: Shame of Muhammadu Buhari, Solomon Dalung (49,647 views)
Ibrahimovic’s Man U exit: Whose decision is it? And in whose interest? (48,125 views)
John Mikel Obi: Segun Odegbami’s Outrageous Call! (47,516 views)