The moment of truth is coming for AC Milan. Soon it will be clearer whether president Yonghong Li possesses the necessary financial strength or if Elliot will take control of the club. The latest rumors about the Chinese ownership of AC Milan do not look promising. November will be the month of the truth for president Yonghong Li, and any doubts about the club’s financial strength will be dissolved. Either the red and black club…
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Despite AC Milan’s questionable economic situation concerns have never emerged from the club, fully confident in their project. The situation of AC Milan is well known: by October next year, the club and Rossoneri Lux (controlling the majority stake) will have to repay the 303 million euros (plus interest) lent by Elliott Management Corporation, the US fund that in Spring helped Yonghong Li to acquire the rossoneri. 180 million went to Rossoneri Lux for the closing…
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An enormous amount of money was needed to buy AC Milan. In a year Yonghong Li has to repay a large figure to his creditors. As it is well known, Yonghong Li has lent 300 million euros from Elliott Management Corporation. That debt must be repaid by October 2018 with lots of interest (but not exaggerated). Of this money, 180 millions were used to finance Milan’s acquisition from Fininvest via the Rossoneri Sport Investment Lux….
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Il Sole 24 Ore tries to explain what would happen if the rossoneri went bankrupt. The Italian financial magazine joins the fierce debate, initiated by AS Roma president, in a short attempt to explain the procedure if AC Milan or its owner, Yonghong Li, went in default. As reported in an article by Carlo Festa for Il Sole 24 Ore, the Elliot Management fund, whose loan to AC Milan was mentioned by James Pallotta in…
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