"AC Milan could be set for some big changes at corporate level, with RedBird Capital apparently close to paying off their vendor loan. According to La Verita (via MilanNews), after nearly three and a half years, the €489m vendor loan soap opera is nearing its end. They claim that Gerry Cardinale has long been seeking a financial institution willing to repay the loan, which has since reached €566m with interest."
"If the loan were to be paid off in full, there could be significant repercussions, especially on Milan's corporate structure and the chain of command currently in place. There would almost certainly be a convening of a board of directors regarding the new financial situation and the consequent release of the pledge that Sheva Investments Limited holds on Milan. If RedBird were to repay its debt to Elliott Management, many of the figures currently employed by Milan could vacate their positions."
RedBird Capital appears close to securing repayment of AC Milan's €489m vendor loan, which has grown to €566m with interest. Gerry Cardinale has sought a financial institution to assume the debt, with names like Manulife Comvest and Apollo Sports Capital mentioned. Full repayment could prompt a board convening and the release of the pledge held by Sheva Investments Limited on Milan. Significant corporate repercussions may follow, including potential departures of key figures such as Dominic Mitchell and Gordon Singer and possible discussion over CEO Giorgio Furlani's future and potential replacements.
Read at SempreMilan
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