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AC Milan seek new ways in which to improve dire financial situation

AC Milan seek new ways in which to improve dire financial situation

  • Jordan Russell (@JordRuss96)
In terms of the transfer market, there will be no new arrivals at AC Milan this month as the club currently has far more critical financial issues to contend with.
 
The Rossoneri are currently dealing with the €380 million debt contracted by owner Yonghong Li when he initially bought the club from Silvio Berlusconi last April.
 
The loan is due to be repaid to Elliot by October this year, but CEO Marco Fassone insists he is confident that he can reach an agreement with the American hedge fund before this date.
 
The exclusivity rights granted to Highbridge has expired, which has brought about the possibility of negotiating with two other international firms: Merrill Lynch and Jefferies.
 
Meanwhile, according to Tuttosport, the deal on the table would not allow the club to cover the entire amount owed to Elliot. Because of this, Fassone is looking for a way in which to refinance via more than one investment fund at the same time. This would allow him to guarantee corporate assets to each of them.