AC Milan: Is the End Near?
+9
Kaladin
farfan
Mr Nick09
M99
Unique
Great Leader Sprucenuce
breva
Firenze
Luca
13 posters
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AC Milan: Is the End Near?
https://www.nytimes.com/2017/11/16/business/dealbook/china-soccer-acmilan-ownership.html?smid=tw-share
Some highlights, for my lesser literary minds:
===================================
Thoughts on how this will go? Can easily see it being another Parma situation at this point. No jokes aside, this is terrifying.
Personally, I can't wait to sign Bonucci, Donnarumma and Conti at liquidation rates
Some highlights, for my lesser literary minds:
The soccer club, bleeding money after a spending spree on star players, is seeking new investors or a refinancing of the high-interest loan that Mr. Li took to buy the club. That loan comes due in a year.
Chinese corporate records show that — on paper, at least — someone else owns his mining empire. That company’s offices were empty on a recent visit, and a sign on the door from the landlord cited unpaid rent. A spokesman for A.C. Milan said Mr. Li’s control of the mining business had been verified by lawyers and banks involved in the transaction.
Chinese records also show a series of business disputes and run-ins between Mr. Li and Chinese regulators.
Mr. Li set up companies in the British Virgin Islands and Luxembourg that would put the club’s legal ownership outside China, according to Marco Fassone, A.C. Milan’s chief executive officer. Mr. Li also borrowed about $354 million from the hedge fund firm Elliott Management, a loan he must pay back by October 2018. A spokeswoman for Elliott declined to comment.
A.C. Milan remains debt laden and unprofitable, and could have trouble repaying what it owes on its own. It spent about $274 million to sign 11 players this summer, according to the club spokesman, making it among the biggest spenders in European soccer.
In August, A.C. Milan had to wait for the transfer of two players it had signed from other teams because it had not deposited the required bank bonds. The club blamed a timing issue for the delay, and the transfers were eventually completed. The team is in seventh place but, with more than two-thirds of the season left to play, must finish among the top four to earn a spot in European soccer’s elite Champions League next season. The team could lose valuable television revenue if it fails to reach that level.
===================================
Thoughts on how this will go? Can easily see it being another Parma situation at this point. No jokes aside, this is terrifying.
Personally, I can't wait to sign Bonucci, Donnarumma and Conti at liquidation rates
Luca- J Council Master
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Re: AC Milan: Is the End Near?
Yikes. It definitely sounds shady, and always kinda did with Chinese investors, I can see the bank owning them next year for sure.
Liverpool gonna pick up Calhanoglu on the cheap to replace Coutinho
Liverpool gonna pick up Calhanoglu on the cheap to replace Coutinho
Firenze- the Bloody-Nine
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Re: AC Milan: Is the End Near?
"Serie A stugglers AC Milan are reportedly close to agreeing a deal that would see them able to pay off their debt with US hedge fund Elliott Management."
http://www.90min.com/posts/5808496-struggling-ac-milan-reportedly-close-to-sealing-a-deal-to-pay-off-elliott-management-debt
http://www.90min.com/posts/5808496-struggling-ac-milan-reportedly-close-to-sealing-a-deal-to-pay-off-elliott-management-debt
breva- First Team
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Re: AC Milan: Is the End Near?
Not sure if AC Milan or the plot of gold
Can't wait for Cutrone to remove his mask and reveal himself as prime Matthew McConaughey
Can't wait for Cutrone to remove his mask and reveal himself as prime Matthew McConaughey
- Spoiler:
Luca- J Council Master
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Re: AC Milan: Is the End Near?
No one is gonna allow Milan to go under even if the worst comes to the worst and i doubt it will.
Someone will buy them out and "save the day".
Someone will buy them out and "save the day".
Great Leader Sprucenuce- Forum Legend
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Re: AC Milan: Is the End Near?
breva wrote:"Serie A stugglers AC Milan are reportedly close to agreeing a deal that would see them able to pay off their debt with US hedge fund Elliott Management."
http://www.90min.com/posts/5808496-struggling-ac-milan-reportedly-close-to-sealing-a-deal-to-pay-off-elliott-management-debt
But as reported by CorSera via MilanNews.it, a deal to pay off the debt with the help of advisor BGB Weston has almost been agreed. It consists of a loan that needs to be paid by 2023, with higher interest. In addition, they would receive an extra €100m investment. The total deal would be worth €400m, and should be closed within eight weeks.
Genius, take out more money. Milan going to do a runner
@tom, watch the border closely. If you see Kalinic running with a bag of money, you take him out
Luca- J Council Master
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Re: AC Milan: Is the End Near?
I now have images of Tom doing a 360 spin of the London Bridge and headshotting Kalinic with a Barrett 50.cal
Great Leader Sprucenuce- Forum Legend
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Re: AC Milan: Is the End Near?
ES will just start supporting man city. nothing to see here.
Unique- BOSS MAN
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Re: AC Milan: Is the End Near?
Luca wrote:breva wrote:"Serie A stugglers AC Milan are reportedly close to agreeing a deal that would see them able to pay off their debt with US hedge fund Elliott Management."
http://www.90min.com/posts/5808496-struggling-ac-milan-reportedly-close-to-sealing-a-deal-to-pay-off-elliott-management-debtBut as reported by CorSera via MilanNews.it, a deal to pay off the debt with the help of advisor BGB Weston has almost been agreed. It consists of a loan that needs to be paid by 2023, with higher interest. In addition, they would receive an extra €100m investment. The total deal would be worth €400m, and should be closed within eight weeks.
Genius, take out more money. Milan going to do a runner
@tom, watch the border closely. If you see Kalinic running with a bag of money, you take him out
Nothing wrong with that, as they say "owe a thousand the bank owns you, owe a million you own the bank"
breva- First Team
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Re: AC Milan: Is the End Near?
Unique wrote:ES will just start supporting man city. nothing to see here.
Someone's obsessed with someone.
M99- Forum Legend
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Re: AC Milan: Is the End Near?
Imagine selling your club to fake chinese owners so that they can sign Kessie and Kalinic
Mr Nick09- Forum Legend
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Re: AC Milan: Is the End Near?
Russian and Arab owners >>>
farfan- Fan Favorite
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Re: AC Milan: Is the End Near?
farfan wrote:Russian and Arab owners >>>
Couldn't agree more
Kaladin- Stormblessed
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Re: AC Milan: Is the End Near?
stopped reading at "star players"
Hapless_Hans- Forum Legend
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iftikhar- Fan Favorite
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Re: AC Milan: Is the End Near?
GL fanbases need to sign Milan fans if the club goes under. @M99 @giovanni_milan can join the upventus crew. @Casciavit can continue to be with join mole and CB in the Pep love boat. @ES will start the Atalanta club section to hype Papu and Cristante every week.
rincon- World Class Contributor
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Re: AC Milan: Is the End Near?
Luca wrote:breva wrote:"Serie A stugglers AC Milan are reportedly close to agreeing a deal that would see them able to pay off their debt with US hedge fund Elliott Management."
http://www.90min.com/posts/5808496-struggling-ac-milan-reportedly-close-to-sealing-a-deal-to-pay-off-elliott-management-debtBut as reported by CorSera via MilanNews.it, a deal to pay off the debt with the help of advisor BGB Weston has almost been agreed. It consists of a loan that needs to be paid by 2023, with higher interest. In addition, they would receive an extra €100m investment. The total deal would be worth €400m, and should be closed within eight weeks.
Genius, take out more money. Milan going to do a runner
@tom, watch the border closely. If you see Kalinic running with a bag of money, you take him out
Tomwin Lannister- Ballon d'Or Contender
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