Il Sole 24 journalist Carlo Festa was interviewed by MilanNews regarding the financial strategies of both Milano clubs in terms of the most recent Chinese government meetings.
Festa stated that “in the congress meeting, they discussed football which also included both Inter and Milan. They discussed a strategy for Chinese companies abroad, building in various sectors such as energy, however, one item that has been prohibited is the entertainment sector. Football is one sector of which the Chinese Comunist Party’s congress sees growth.”
When asked if this non-restriction can open the doors for spending in the Milanese clubs, Festa said “No, however, it doesn’t mean they cannot spend on their respective clubs, it just means they cannot get financing with banks from China. This is not just for football clubs or the Milanese teams, but for all companies within China. It does mean that all the partners that Li Yonghong has at the moment of the closing, no longer can be apart of the investment group. However, in terms of Hong Kong based companies, Li is able to find investors but no other parts of the Chinese regions.”
