Former AC Milan owner Li Yonghong’s company faces liquidation amid bankruptcy

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.