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AC Milan hope to bolster squad despite financial uncertainty

AC Milan hope to bolster squad despite financial uncertainty

  • Jordan Russell (@JordRuss96)
AC Milan CEO Marco Fassone is continuing to work hard on securing a more stable financial future for the Rossoneri. Indeed, his main objective is to refinance the €370 million debt the club and its owner Yonghong Li has with American hedge fund Elliot. That must be paid off by October, or it is likely there will be another change of ownership.
 
Merrill Lynch has obtained an exclusive mandate to identify more investors who would be willing to refinance the debt on a long-term basis, following the example set by both Inter and Roma in previous years. The possibility of creating a newco to maximise revenue from sponsorship and TV rights is under consideration. This is seen as a way to attract more potential investors, and would allow the debt owed by the club to be separated from Yonghong Li’s arrears.
 
Another key step in the Diavolo’s financial recovery is their ongoing discussions with UEFA over a settlement. If Fassone were to arrive in Nyon with the Elliot issue already resolved, there would be much less chance of the club incurring economic sanctions and squad size limits. Of course, this would also have a knock-on effect for Massimiliano Mirabelli’s transfer plans.
 
The club hierarchy is determined to keep hold of their best players such as Gianluigi Donnarumma, Suso, Leonardo Bonucci and Alessio Romagnoli. They also want to give Mirabelli a reasonable budget in order to bolster the squad with two or three quality additions. That said, there will certainly be no repeat of last summer’s lavish spending.