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Milan need €80M cash injection by the end of March

Milan need €80M cash injection by the end of March

Having issued a statement in response to newspaper reports regarding his financial situation, Yonghong Li has tried to calm the waters as Milan look search for a new investor.
 
That search has taken CEO Marco Fassone to London with La Repubblica reporting that he was meeting with Meryll Lynch, the company who are responsible for refinancing the club’s debt of over €300M.
 
Alongside Executive Director Han Li and representatives from hedge fund Elliott, Fassone also flew to the English capital in the hope of securing cash injection of around €80M, which would satisfy Covisoc and would ensure the Rossoneri could start next season in Serie A.
 
Li’s proposed €11M investment has now been placed on hold so it’s vitally important Fassone manages to seal a new agreement which would at least buy him some more time to discuss the refinancing of the club.
 
These are worrying times off the field for one of Europe’s biggest clubs, a situation which has taken the gloss off some great performances by Gattuso’s men in recent weeks.