AC Milan: Fassone to meet with Elliott in Milan

08 gen 2018

AC Milan CEO Marco Fassone had been scheduled to travel to China in mid-Janaury to meet with the club’s ownership. However, that trip is now off as he’ll be staying in Milan in an effort to help maintain the current ownership structure.

Corriere dello Sport reports that Fassone is scheduled to meet representatives from the Elliott Management Corp.; the American financial firm that lent the Aldo Rossi Group €303 million to help finance their purchase of the club from Silvio Berlusconi. As has been reported on endlessly, that loan and it’s interest comes due in October of this year, at which time the club’s ownership would transfer to the Elliott Management Corp.

On the table will be the recent failure of the club to refinance with another American firm, Highbridge Capital.

Yonghong Li is desperate to refinance the club and its debt in an effort to maintain his control of it. For his part, Mr. Fassone is confident that he will be able to find financing in the next 100 days.