Uncategorized

Report: American interest in Milan

news image

Reports in Italy once again claim Miami Dolphins owner Stephen Ross could step in to take over Milan if Yonghong Li defaults on his loans.

The Chinese businessman had to borrow €180m from U.S hedge fund Elliott Management to complete his takeover, while the club itself owes around €128m.

These debts have to be paid by October, and the club has been seeking to refinance, taking a longer-term loan at a lower interest rate.

However, this has so far proved unsuccessful, and yesterday UEFA refused a settlement agreement on Financial Fair Play, in part due to concerns about the ownership of the club.

If Li doesn’t pay his debt Elliott can take over the club, and would presumably then sell to the highest bidder to recoup their investment.

Today Milano Finanza is reporting that the hedge fund would sell for €400-500m, and there is an American consortium interested.

The group is headed by Stephen Ross, it’s claimed, with the backing of banking giant Goldman Sachs.

Stephen Ross owns 95 per cent of NFL franchise the Miami Dolphins, and is worth around $12bn.

He has been linked with a takeover of Milan in the past.

See the latest Serie A predictions and betting tips with Eurotips.co.uk

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *