Owner of FC "Milan" could not pay for his purchase by bitcoins

[Mazda3]

The Chinese owner of the Milan football club, Jonhong Li, could not with the help of bitcoin refinance a loan from the private fund of Elliott Management Corp. for purchasing the club. This is reported by RTTNews.

Earlier, FC "Milan" was bought by a consortium from China for loans of € 303 million. However, tycoon Jonhong Li failed to prepare the necessary money to refinance the loan, as the company through which he bought the club was declared bankrupt.

Then he tried to attract bitcoin for payment, but this attempt was unsuccessful because of tight deadlines and issues on guarantee payments.

"If the current owner does not resolve the situation with payment of the debt before October, FC" Milan "will be sold at public auction," - said in the fund Elliott Management Corp.

source: http://www.rttnews.com/2877050/ac-milan-owner-reportedly-tried-to-refinance-club-with-bitcoin.aspx?type=cryp

[SuddenlyBroke]

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He then attempted to pay off the debt using bitcoin through an agency. However, his effort was unsuccessful for want of time and issues with few of his guarantees.

Interesting. So I wonder what the issue was I guess he just didn't have all the bitcoin? Because what guarantee can someone need if you have the bitcoin and just send it? Once you've waited a certain number of confirmations, the money is as safe as houses isn't it?!

So I guess he just didn't have the coins? 

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"If the current owner does not resolve the situation with payment of the debt before October, FC" Milan "will be sold at public auction,"

That would be a strange auction, wouldn't surprise me if some fan turned up and bought the club!