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Milan-BGB find the fund to replace Elliot in a €400 million deal
Important news have emerged in the last few hours regarding AC Milan. The club is ready to finalize a deal that will secure the future of the rossoneri.
In Casa Milan they are not thinking only about the Saturday game against Napoli, but also for the future club. And these days, the issue of refinancing the 303 million euros of debt borrowed from Elliott fund has been the topic of the week. According to the news that has emerged in the last few hours AC Milan have signed an exclusive eight-week contract with the international fund Highbridge, controlled by investment bank JP Morgan, which will refinance both the debt loaned by AC Milan (123 million) and that of the Rossoneri Sport Lux, the holding company of Yonghong Li (180 mln).
NEW PLAN – Corriere della Sera reports this morning explaining that the new plan will last for five years and, according to rumors, the new funding will cover a total figure of 400 million euros: about 250 million for Rossoneri Sport, 150 for Milan. The newspaper also adds that if the business plan is respected, it will be possible to get another 100 million in loan. This plan is very conservative in terms of sporting results (it projects Europa League qualification and not Champions League), but it is, for example, more aggressive with regard to China’s sales revenues.
THERE IS CONFIDENCE – At this moment, the due diligence of the development plan of the rossoneri is under way and there is confidence that something definitive can be achieved even before the eight weeks deadline. Highbridge Capital Management fund, based in New York and with headquarters in London and Hong Kong, is therefore ready to refinance the rossoneri debit with Elliott and thus allow the red and blacks to look to the future with greater serenity and tranquility.
