Friday April 13 2018
Fassone: Milan finances ‘very good’

Marco Fassone insists Milan’s finances are ‘very good’ and explains owner Li Yonghong has ‘three options’ to refinance the club.

Fassone’s remarks follow reports that one of Li’s companies were declared bankrupt, just six months before Milan were due to repay a €303m loan to hedge fund Elliott Management.

“Milan are very good from a financial and economic point of view,” the CEO told Gazzetta dello Sport.

“Common opinion can sometimes be deceptively induced so that there seems to be problems.

“Instead, there aren’t any: if we calmly analyse the balance sheets, we can see that Milan aren’t bad at all.

“After that, I’d like to remind you that in buying Milan, Mr Li has indebted himself to the club.

“He made an investment that weighs on only him, lightening the load on the club from a debtor’s point of view.

“The refinancing will happen, even if the modalities are still under discussion. There are three options that Mr Li is evaluating.

“There’s no need for it to be done tomorrow morning, there are still six months and I’m calm enough to believe that it’ll happen on time.

“After that, of course, if the refinancing is for five years and not six months, I wouldn’t need to jump so many obstacles for national and international licenses, but I can live with it.

“The support of the club has always been there and we’ve been allowed to work without ever scraping the bottom of the barrel.

“However, I repeat, the wish isn’t to get to October: if [the refinancing] was completed a couple of months before, maybe four, I’d be calmer.

“In a week to 10 days, a definitive proposal should be with Merrill Lynch.”

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