Milan`s potential new owner still believes leadership
From the American hedge fund Elliott Management announced they have full confidence in Milan`s leadership and thus denied any news that they were preparing to put their hands on the club. The financial institution in question granted the loan of about EUR 300 million, with which the Rosoners carried out an active transfer policy. The agreement states that Italians have to pay their debt in the coming year. If they do not, the hedge fund will acquire ownership of Milan. And since the team is in a serious crisis of results according record of football picks
and has no guarantee of upcoming financial contributions from the Champions League and any other achievements, Calcio e Finanza has written that Elliott Management has already hired an agency to find a new executiveand Sports Director of Milan.
We have full confidence in the club`s leadership, and we firmly deny giving a mandate to the Creative Artists Agency to look for new club bosses, according to the official statement of the Americans. Corriere della Sera wrote that boss Lee Jonston and his Sport Investment group have agreed to refinance the loan with funds from another fund - Highbridge Capital Management. The amount awarded will even be higher than necessary - about EUR 400 million, with the obligation to return to five years. The important thing is that the interest rate is higher, but Corriere della Sera does not know it. Of these 400 million euros 250 will be allocated to the Sport Investment group and the rest of the club.
An additional EUR 100 million is planned to be allocated if the club succeeds in achieving the success of the contract. And these successes are tied to possible strong achievements in the League of Europe and the corresponding revenues from it.
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