AC Milan, here is the latest on their ownership situation
THE MERRILL LYNCH OPERATION IS ON HOLD - Carlo Festa (of Sole 24) spoke to Milannews.it yesterday as he revealed that there are problems that have occured between Milan and the Merrill Lynch bank with whom Fassone was negotiating with to reimburse the famous Elliott loan.
THE MOTIVES - Here is what Festa said on the matter: "There are two different debts: Milan will have to reimburse 120 million euros to Elliott but the Rossoneri Sport (of Yonghong Li) will also have to give back 180 million euros to Elliott management. The 120 million euros are easier to repay since it is easier for an International bank to give a line of credit to an entity like AC Milan. Milan have TV rights and sponsors so their 120 million euros debt won't be very hard to repay. For the other 180 million euros, this will solely be based on Li's personnal fortune and we don't know much about him as of now...".
Jean-Luca Mascaro (@CalcioNews89)