"Gerry Cardinale is working on refinancing to repay early the €489m vendor loan, plus interest, granted by Elliott Management and due in 2028. As La Gazzetta dello Sport report this morning - following on from what La Verita and Mateo Moretto said on Sunday - the transaction has begun and could be completed within a few weeks. RedBird will be provided with the funds needed to repay the Singer family by a pool of investors who see Milan as an attractive opportunity,"
"Cardinale purchased Milan in the summer of 2022, after the club's last Scudetto victory, giving the club an enterprise value of €1.2bn. The equity value was €1.15bn: €600m was paid by RedBird to the Singer fund, while €550m was loaned (with the corresponding interest rate) by the seller to Cardinale. The vendor loan was extended in December 2024 until July 2028 with a further investment from RedBird and a debt reduction of €489m."
Gerry Cardinale is refinancing to repay early the €489m vendor loan, plus interest, granted by Elliott Management and due in 2028. A transaction to secure funds has begun and could be completed within a few weeks. RedBird will receive funds from a pool of investors to repay the Singer family, supported by Milan's three consecutive years of profit and the secured stadium deal. Cardinale bought Milan in summer 2022 valuing the enterprise at €1.2bn and equity at €1.15bn. The vendor loan was extended in December 2024 to July 2028 with a €489m debt reduction. Corporate changes remain possible.
Read at SempreMilan
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