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Name of new investment fund to clear AC Milan's debts revealed

Name of new investment fund to clear AC Milan's debts revealed

  • Nima Tavallaey Roodsari (@NimaTavRood)
Carlo Festa of Il Sole 24 reveals the name of the new investment fund that will refinance AC Milan's debt to the Elliott group over several years as opposed to the current period of 18 months. The initial news of the existence of this fund was revealed during Milan's annual shareholders meeting.

According to the report: "a big international foundation based in Hong Kong and London will function as a bridge to get Milan out of their deep debts, known as Highbridge are in contact with Milan's advisors to study the restructuring of the club's debts."

Il Sole 24 continues further that: "Highbridge have a strategic partnership with American business bank JP Morgan. Italian lawyer Riccardo Agostinelli and the financial advisor Bob Weston are working on a structure to impose within 8 weeks. The plan is to refinance the club's holding company Rossoneri Sports which is based in Luxemburg as well as the club itself, Milan."