Chloe Beresford for Forbes has penned a stunning revelation regarding the possible conflict of interest between Paolo Scaroni and AC Milan's takeover by Li Yonghong as there existed multiple professional relationships between Scaroni and Silvio Berlusconi, Elliot Management and Rothschild Italia. The article asks the audience to scrutinise the other parties involved in Li Yonghong's short ownership spell. Beresford goes on to describe the events as follows in chronological order:
- Li Yonghong makes first 100 million euro payment for the club, Scaroni joins the board of AC Milan.
- China's government changes rules in overseas investment in football creating issues of payment for the deal.
- Li approaches Rothschild Italia - whose deputy Chairman was Scaroni - for advice but the company fails to provide an alternative financing solution.
- Li turns to Elliot Management signing an unfavourable deal in desperation.
- Li bails on a payment and the club is seized by Elliot, Scaroni becomes President of AC Milan.
“It was an exasperating time,” Li says in an exclusive interview with Beresford. “Mr. Scaroni was cordial, well-spoken and seemed to know everyone in Italy, particularly Milan. At the time we trusted him, he was our board member, and now he’s president. And like us, I’m not sure Rothschild was fully aware of what Scaroni was up to behind-the-scenes and if he used any inside information for his own benefit, or for the benefit of Elliott.”
“Looking back, it is impossible to ignore Mr. Scaroni’s role in all of this,” says Li. “The conflict of interest could not be more apparent to us.”
Read the original article here for a comprehensive look at AC Milan President Paolo Scaroni.