NEWS
Wednesday January 17 2018
Elliott 'would sell Milan at auction'

If Yonghong Li doesn’t pay back his debt to Elliott Management, they will put Milan up for sale “to the highest bidder,” confirmed a representative.

The Serie A club takeover from Silvio Berlusconi was only completed thanks to a €303m loan from American hedge fund Elliott Management in April 2017, which has to be repaid in October.

Today TeleLombardia had an interview with Paolo Scaroni, a member of the Milan Board of Directors who represents Elliott’s interests and is the Vice-President of Rothschild.

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Wednesday January 3 2018
Milan could issue bond

Milan could reportedly emulate city rivals Inter in releasing a bond to pay their debt to Elliott Management.

The Rossoneri are looking to refinance their loan from the U.S hedge fund, and had approached BgB Weston to find investors willing to make the investment.

There was an offer on the table from Highbridge, but it was reported last month that it was ’50-50’ if that would get through due diligence.

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Tuesday January 2 2018
Milan snub Highbridge proposal

Milan will reportedly let the deadline with Highbridge expire and wait for other offers to refinance the €303m debt to Elliott Management.

The club has given BgB Weston an exclusive for another three days to find investors willing to refinance the loan from the US vulture fund.

Highbridge are the option they came up with, but news agency ANSA claim this evening that Milan are not convinced it’s the best deal they can get.

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Friday December 22 2017
Milan refinancing 50-50?

The Financial Times reports that Milan have just a 50-50 chance of refinancing their debt to Elliott Management.

The U.S. hedge fund provided around €300m to allow Yonghong Li to compete his takeover in April, with €128m owed by the club at seven per cent interest and €180m by the Chinese businessman at around 11 per cent interest.

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Thursday December 14 2017
Elliott: ‘Confidence in Milan board’

A spokesperson for Elliott Management insists the hedge fund has “complete confidence” in the Milan board.

The website Calcio e Finanza reported that the American fund was already preparing to take control of the club, appointing Creative Artists Agency to find a new CEO and sporting director.

However, a spokesperson for Elliott Management has now spoken to the site in question, affirming their faith in the current Rossoneri regime.

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Thursday December 14 2017
Elliott make Milan preparations

It’s reported Elliott Management could even hold on to Milan if the club and owner Yonghong Li default on their debt.

The US hedge fund loaned the club and Li’s company, Rossoneri Sport Investment, a total of around €300m, which must be repaid by October 2018.

If that money isn’t paid back, then Elliott can take over the club, and would control all of the assets.

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Thursday November 30 2017
Milan takeover 'not transparent'

The Corriere della Sera and La7 claim Yonghong Li’s purchase of Milan was “absolutely not transparent, reaching a level that has never been seen before.”

The takeover from Silvio Berlusconi has been analysed by multiple financial experts around the world in recent weeks, including the New York Times and Forbes magazine.

“We have a name, Yonghong Li, but in reality we don’t know if he is the owner of Milan,” said Mario Gerevini of the Corriere della Sera newspaper during an investigative report on La7 show Piazzapulita.

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Wednesday November 22 2017
Berlusconi: ‘Chinese met obligations’

Former Milan President Silvio Berlusconi points out the new Chinese owners “always met their commitments”.

Rossoneri Sport Investment, the consortium led by Yonghong Li took over the club in April, but there have since been doubts about how much money they actually have.

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Tuesday November 21 2017
Forbes: 'Milan sold at bargain price?'

Forbes have now reported that Milan are in financial trouble and Yonghong Li could sell the club soon “at a bargain price.”

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Thursday November 16 2017
Fassone: ‘Milan have huge potential’

CEO Marco Fassone assures Milan have “extraordinary potential” and is “quietly confident” about Financial Fair Play.

The Rossoneri were taken over by a Chinese consortium in April, but they needed a loan from U.S hedge fund Elliott Management to get the deal over the line.

In addition, they’ve submitted plans to UEFA for a voluntary agreement to avoid FFP sanctions, and the director discussed these issues in a Q&A with fans today.

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