Yesterday afternoon, just a few hours before the start of Hellas Verona - Milan, the Rossoneri club issued an official statement announcing that:
"A refinancing of the Vendor Loan held by vehicles managed by Elliott Advisors UK Limited ('Elliott') has been completed. The refinancing with Elliott, acting exclusively as a lender, includes an additional investment of €170 million from AC Milan's ownership, RedBird Capital ('RedBird'), which reduces the principal amount of the loan to €489 million, now maturing in July 2028."
Milan fans, however, continue to protest...
As explained by Tuttosport this morning, with this operation, RedBird has extended by three years the deadline for repaying a loan that Elliott had granted at the time of the club's acquisition.
Gerry Cardinale thus retains control of the Rossoneri club, but even yesterday during the match against Verona, the protests of Milan fans persisted, with repeated calls for RedBird's top executive to sell the club.
Those hoping for Cardinale's early departure will have to come to terms with reality, but this does not rule out the possibility of new investors joining the club in the not-too-distant future.
New investors at Milan with RedBird?
Indeed, before the Milan prosecutor's office launched its investigation into the sale of the club from Elliott to RedBird, it was no secret that Cardinale had been seeking new partners in the Arab and Asian markets. The hunt for new investors could soon resume. In the meantime, fans are closely watching the situation, even as their top priority remains the team's performance on the pitch.
