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Elliot representatives arrive in Milan to meet Fassone

Elliot representatives arrive in Milan to meet Fassone

  • Jordan Russell (@JordRuss96)
Representatives of American hedge fund Elliot have arrived in Italy within the last few hours ahead of their meeting with AC Milan CEO Marco Fassone, according to Corriere dello Sport. The newspaper suggests that he wants to put in place a new strategy in collaboration with the corporation.
 
Given the difficulties endured with Goldman Sachs, Merrill Lynch and Highbridge, Fassone wants to postpone the deadline for the repayment of a €300 million loan which was needed to complete the takeover of Milan last April.
 
However, should Elliot accept these revised terms and conditions, there is a strong possibility that they will impose even higher interest rates than those already in place.
 
The Rossoneri’s financial future is clouded in uncertainty, given the fact they have also yet to reach an agreement with UEFA over how they plan to balance their books and meet Financial Fair Play requirements within the next few years.