AC Milan owner Yonghong Li denies press claims of money laundering.

It's been reported Li's takeover of Milan was used to launder money.

“The articles recently published by the Italian newspapers 'La Stampa' and 'Il Secolo XIX', and then resumed by many other media, relating to an alleged money laundering investigation against the Fininvest group (which was later denied by the Public Prosecutor's Office) require me to make clarifications as one of the parties involved," Li's statement declared.

“The AC Milan purchase process was always carried out with the utmost transparency, compliance with regulations and correctness, with the support and advice of international financial and legal advisors.

“All procedures were followed in full compliance with the laws and practices in force.

“All financial institutions, sporting organisations and authorities involved received the documentation, either required or requested, to assess and approve both the 'closing' process and the qualifications of the new ownership now managing the team.

“What I have read these days absolutely does not reflect the reality of facts. Therefore, while considering the Group that I chair, AC Milan S.p.A., and myself as injured party of this unfortunate and unacceptable media campaign based on speculations and misleading information, we reserve the right to take all necessary legal actions to protect in the best way the image, the reputation and the financial solidity of AC Milan and of the referred group."