Mainland businessman Li Yonghong’s company, Rossoneri Sport Investment Co., Ltd., which previously owned Italian football club AC Milan, is facing a liquidation petition filed by creditor General Fantasy Limited, with a hearing set for next January.
Li acquired AC Milan through his Chinese-led consortium in 2017. However, the company later failed to repay debts after signing a bond subscription agreement with five investment fund firms.
Last year, the funds demanded repayment of US$280 million from Li as guarantor but were unsuccessful, prompting them to file a petition in the High Court.
The court subsequently declared Li bankrupt.
According to judicial records, the hearing for the liquidation petition is scheduled for January 14, 2026, at 9.30am.
