NEWS
Thursday February 15 2018
Milan work for refinancing deal

It’s reported Milan are working on a €250m refinancing deal with Elliott Management, separating Yonghong Li’s debt.

The Chinese owner got a €123m loan from Elliott, an American hedge fund, to take over the Rossoneri and that must be repaid by October.

As a result the Diavolo have been looking to take out another loan to repay the hedge fund, but the unclear status of Li has made it difficult to find a lender.

Now Tuttosport is reporting that Milan are working with Merrill Lynch on a €250m refinancing deal, double the original loan.

However, this would separate Li’s €180m debt from the club, reducing his exposure and making the deal easier.

That would also give the Rossoneri more time to pay the debt, as they’re likely to make a loss again this season.

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