"When Cardinale and RedBird bought Milan in the summer of 2022, a vendor loan for roughyl half of the amount was agreed upon with Elliott Management. This loan was refinanced at the end of last year and then, the principal amount stood at €489m. Last week, Calcio e Finanza reported that the loan now amounts to €523m due to interest, and that Cardinale is actively looking for investors either to pay off the loan entirely or refinance it."
"I can also tell you that from a corporate point of view, in 2026 we can expect some possible changes, as there have been significant movement on the club's financial situation. It remains to be seen if part of Milan will be sold, or if there will be another loan to repay the debt to Elliott. For now, the situation isn't so clear, but Milan could change face from a corporate point of view," he stated."
Gerry Cardinale and RedBird acquired Milan in summer 2022 with a vendor loan covering roughly half the purchase price agreed with Elliott Management. The loan was refinanced late last year, leaving a principal of €489m. Interest has increased the outstanding balance to €523m. Cardinale is seeking investors to either repay the debt in full or refinance the obligation. A new loan partner would require board representation. Corporate changes could occur in 2026, including a partial sale or a different financing arrangement to settle the debt to Elliott. The ultimate outcome remains uncertain.
Read at SempreMilan
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