AC Milan owner Yonghong Li has released a statement refuting claims he's been made bankrupt.
There's been claims one of his companies was involved in bankruptcy proceedings even before the April 2017 club takeover from Silvio Berlusconi.
But Li declared: “Happy Chinese New Year to you all! I spent this traditional festivity at home with my family. I have seen that over the past 48 hours, some media have irresponsibly reported fake news that has damaged the Club, my companies, my family and myself.
“From the day I bought AC Milan, I have faced difficulties and have been under unprecedented pressure. Following these reports and irresponsible news reports, I would like to calm down the environment around the club and the team.
“We do not understand the purpose of these allegations but they have now reached the point where the Club is severely damaged by them and so are my companies and my family.
“I want therefore to take the opportunity to explain - hoping this will be the last time - that the situation concerning my assets is safe and sound and that both the Club and my companies are steadily working. I, therefore, hope that no credit is given to the latest news that isn't true and that attention can be focused on what we all care about as in the management of and the improvements of the team and that we all keep supporting coach Rino Gattuso. We will do everything we can to bring the Club back to the top.
“I have been following every single game of the team this season so far. I saw players cry after a defeat, in the worst part of the season, just as I saw David Han Li and Marco Fassone celebrate our victories.
“I have deeply felt every emotion and feeling. We can handle such a big pressure because we are convinced we can reach new heights and reward all the AC Milan fans throughout the world.
“Thanks to everyone's commitment, the team is now enjoying a positive run. Thanks to coach Gattuso's and our players' efforts I see the team is improving in every aspect.
“Thank you all. Lastly, on my wife's and my behalf, I want to wish you a happy new year, good health and success at work."
