AC Milan: "We are already working to reimburse them (the loan from Elliot Management)" (M. Fassone)

"We are already working to reimburse them (the loan from Elliot Management) and we will actually do this really early, possibly at the start of 2018. In a worst-case scenario (default on the payment schedule), it means that in October next year, the owners of Milan will be Elliott," said Marco Fassone, CEO of AC Milan, to the British daily The Guardian in its edition of 27/08/2017.

Rossoneri Sport Investment Lux, the Luxembourg-based holding company of Li Yonghong (president of AC Milan), bought 99.93% of the club's shares from Fininvest, the company of Silvio Berlusconi, on 13/04/2017 for €740m, including debt valued at €300m. A loan to finance the acquisition was contracted with Elliott Management at interest rates of 11.5% (for €180m dedicated to the acquisition of the club) and 7.5% (for €120m for investments in the player transfer market).

"This is really the worst case but, just to ensure, the future of the club is not in the fog. No, 99% we will go ahead with Mr Li and we hope our project will be successful. But in the worst case, be relaxed because Elliott are not…