"When Gerry Cardinale bought AC Milan, a vendor loan was agreed for the repayment. However, it is a topic of interest currently. In recent months, the vendor loan in particular has been a big focus for everyone around Milan. There have been several suggestions that the club may be sold, but these suggestions have been untrue and shut down on each occasion."
"As Calcio e Finanza writes, via Calciomercato.com, the management are seeking a loan of around €500-600 million, which would be used to refinance the loan from Elliott, which currently is worth around €523m due to interest. The dream this Christmas is that a loan is waiting underneath the tree, but what that would entail after the refinancing remains to be seen."
RedBird and Gerry Cardinale are seeking aid to repay Elliott for the vendor loan after the loan was refinanced. The vendor loan tied to the acquisition of AC Milan currently stands at approximately €523 million due to accrued interest. Club management are pursuing external financing in the region of €500–€600 million to refinance Elliott’s position. Rumours of a club sale have repeatedly been denied and there is no current movement toward selling AC Milan. RedBird have sought funds to settle the vendor loan since 2022, and the recent refinancing agreement with Elliott raises hopes that refinancing funds can be secured.
Read at SempreMilan
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