AC Milan CEO Marco Fassone was in London yesterday to handle talks regarding the refinancing of the club’s debt with Elliot. Indeed, the Rossoneri are also continuing to work alongside Merrill Lynch in an attempt to ease the financial pressure under which they find themselves.
Merrill Lynch have the mandate to find a new investor to replace Elliot, who would become the sole creditor of Milan and Yonghong Li himself. Fassone aims to find someone willing to enter into an agreement which includes lower interest rates and more time to repay the debt.
That is of course proving to be difficult, though Fassone and his colleagues recognise there is a need to speed up the process given that they must look to comply with UEFA’s Financial Fair Play regulations, or prove that they have a solid plan in place with a view to doing so in the next few years.
Jordan Russell (@JordRuss96)