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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