For the modern Milanista

  • 1
  • 4
  • 5
  • 6
  • 7
  • 8
 
User avatar
Jasper
The Maldini of Multimedia
Posts: 1487
Joined: 13 Jun 2016, 19:58

Re: Finances

17 Nov 2017, 12:24



not commented on today's paper review: https://www.acmilan.com/it/news/rassegn ... 7-novembre (waiting for tomorrow)
0
Only Maldini can judge me
 
User avatar
LemonCookies
Calshio Expert
Posts: 1081
Joined: 10 Jun 2016, 17:10

Re: Finances

17 Nov 2017, 23:57

Jasper wrote:


not commented on today's paper review: https://www.acmilan.com/it/news/rassegn ... 7-novembre (waiting for tomorrow)


How'd he get in there? "Here, random bum ass journalist, come on in and look at our place!" I call bullshit.
0
 
User avatar
Jasper
The Maldini of Multimedia
Posts: 1487
Joined: 13 Jun 2016, 19:58

Re: Finances

18 Nov 2017, 07:38

LemonCookies wrote:
How'd he get in there? "Here, random bum ass journalist, come on in and look at our place!" I call bullshit.

:lol: They were evicted.
0
Only Maldini can judge me
 
User avatar
milanist
The Franck of Tanks
Posts: 10954
Joined: 05 Jun 2016, 01:25

Re: Finances

21 Nov 2017, 12:39

Report: UEFA to reject Milan’s FFP deal

This morning’s Marca is reporting that UEFA are completely unconvinced by the plans, as all the investments have been made based on the sporting success of the Rossoneri.

Given that they’re already 11 points away from the Champions League places, that isn’t seen as being a sensible plan to become profitable.

If UEFA do reject the plans they will have to come up with a new arrangement and possible sanctions for Milan, which could include being barred from European competition.

While this is still unconfirmed it adds to troubling rumours around the club, with the New York Times reporting last week that Yonghong Li is unknown in China, and may not own the mining company which is said to be behind his wealth.

http://www.football-italia.net/113115/r ... s-ffp-deal
0
 
User avatar
milanist
The Franck of Tanks
Posts: 10954
Joined: 05 Jun 2016, 01:25

Re: Finances

01 Dec 2017, 07:39

Milan takeover 'not transparent'

The Corriere della Sera and La7 claim Yonghong Li’s purchase of Milan was “absolutely not transparent, reaching a level that has never been seen before.”

The takeover from Silvio Berlusconi has been analysed by multiple financial experts around the world in recent weeks, including the New York Times and Forbes magazine.

“We have a name, Yonghong Li, but in reality we don’t know if he is the owner of Milan,” said Mario Gerevini of the Corriere della Sera newspaper during an investigative report on La7 show Piazzapulita.

The problems all stem from the €300m loan taken with hedge fund Elliott Management, which was necessary to complete the takeover.

“If you buy a club worth €720m including €220m of debt, and have to take a loan at a rate of 11 per cent, it means you don’t have the money.

“If someone loans you money at 11 per cent, it means you are considered a high-risk case. In fact, Yonghong Li didn’t manage to get the money from the usual channels, like international banks. He had to knock at the door of a hedge fund.

“The money arrived via a series of tours around financial safe havens, loans, guarantees and was absolutely not a transparent operation.

“There are often purchases of clubs that are not particularly transparent, but Milan have reached a new level that had never been seen before.

“Milan is a club that is burning up €50-70m per year. If you start out running at a debt, it’s difficult for you to pay back a loan.”

The Rossoneri patron is currently negotiating a refinancing package, allowing the club to pay back the Elliott Management loan over five years rather than just one, putting the search for new investors in the hands of London-based company Highbridge.

“The risk for Milan is that at the end of the financial year, there is not sufficient evidence that the club can continue operating at this level. If that is the case, and there isn’t a strong majority shareholder who can inject liquidity fast, then the balance sheet cannot be approved.

“The consequences of that would be to bring in the bankruptcy tribunal.”

https://www.football-italia.net/113597/ ... ransparent
0
 
User avatar
Jasper
The Maldini of Multimedia
Posts: 1487
Joined: 13 Jun 2016, 19:58

Re: Finances

01 Dec 2017, 08:08

> Financial experts
> NY Times and Forbes

you mean journalists?
1
Only Maldini can judge me
 
User avatar
naraku
Posts: 1395
Joined: 11 Jun 2016, 11:49

Re: Finances

01 Dec 2017, 10:24

While at the same time we just had a meeting with city officials about a new stadium. da fuck ! :lol:
0
 
User avatar
Jasper
The Maldini of Multimedia
Posts: 1487
Joined: 13 Jun 2016, 19:58

Re: Finances

01 Dec 2017, 11:21

naraku wrote:
While at the same time we just had a meeting with city officials about a new stadium. da fuck ! :lol:

Well bluffers are really active to look like they're doing stuff. And there are even cases where they break through with stuff. For example a total fraud almost attained NY Isladers and tho it didn't eventually got through his TV deal made him like top 3 owners of franchise or sth :D - http://www.imdb.com/title/tt3311418/
0
Only Maldini can judge me
 
User avatar
milanist
The Franck of Tanks
Posts: 10954
Joined: 05 Jun 2016, 01:25

Re: Finances

06 Dec 2017, 14:26

1
 
User avatar
highrider
Moderator
Posts: 1753
Joined: 06 Jun 2016, 11:39

Re: Finances

07 Dec 2017, 11:46

Arab dollars please.
0
 
User avatar
LemonCookies
Calshio Expert
Posts: 1081
Joined: 10 Jun 2016, 17:10

Re: Finances

08 Dec 2017, 04:53

I don't really want Arab owners. Their money's dirtier than our Chinese overlords.
0
 
User avatar
milanist
The Franck of Tanks
Posts: 10954
Joined: 05 Jun 2016, 01:25

Re: Finances

14 Dec 2017, 00:22

AC Milan’s future: Elliott preparations in place should Yonghong Li default

Ever since the closing of the sale of AC Milan to a group of Chinese investors led by Yonghong Li – thanks in large part to the financing of the venture of Elliott Management Group, there has been lots of speculation on the new owner’s ability to pay off the debt before the due date of October 2018.

As previously reported, should the debt not be repaid in time, Elliott would become the de facto Milan owner and own all the assets at a significantly lower price than what they were purchased for.

Milan CEO Marco Fassone, who is directly involved in this dossier with the help of legal advisor Riccardo Agostinelli and financial advisor BGB Weston, would like to conclude the financing by spring 2018.

The first phase of the work (due diligence) by Highbridge should conclude in the coming days. If all goes well, the negotiations would then take place to get the funding to repay Elliott. There are two debts to repay, the debt of the club (Milan) and the debt of the holding company (Rossoneri Sport).

While companies like Bofa-Merrill Lynch and Goldman Sachs were ready to refinance the club, they were reluctant to refinance the holding company. In the event that worse case scenario would occur, Elliott would take over Milan and Yonghong Li would lose all his investment made to date.

What would Elliott decide to do then?

The first option would be to sell the club to a new owner, having an auction with anyone interested to acquire the assets and giving them to the highest bidder.

Alternatively, Elliott could keep Milan. Although premature at this point as a potential scenario, there are signs from London that they are considering this possibility.

In fact, according Calcio e Finanza sources in the finance world, Elliott is already searching for new management to run the club. Gordon Singer, 43 year-old son of Elliott founder Paul Singer and head of their London operations, is seriously considering to keep Milan. The Singer family is passionate about football and are noted fans of Arsenal.

It is also for this reason that, according to sources consulted by Calcio e Finanza, a headhunting department of marketing firm Creative Artists Agency (CAA) has started searching potential executive candidates and managers to run Milan by the American led Elliott Management Group in recent weeks.

The search also involves the role of sporting director, currently occupied by Massimiliano Mirabelli. It also involved the search of a CEO, currently occupied by Marco Fassone, who ironically is the one who introduced Yonghong Li to Elliott to rescue the sale of Milan.

It is safe to say that Singer Jr wants to be prepared in case Yonghong Li defaults on his loan. Till then, the balls rests in Li’s hands and the management he chose to run the rossonero club. The upcoming decision on the voluntary agreement, and in case of a negative response, subsequent settlement agreement, and conclusion of the work performed by BGB Weston with Highbridge (and potentially other finance firm) will give a clearer picture of what the future holds for Milan by the spring of 2018.

http://en.calcioefinanza.com/2017/12/13 ... nghong-li/
0
 
User avatar
milanist
The Franck of Tanks
Posts: 10954
Joined: 05 Jun 2016, 01:25

Re: Finances

14 Dec 2017, 20:59

Elliott: ‘Confidence in Milan board’

A spokesperson for Elliott Management insists the hedge fund has “complete confidence” in the Milan board.

The website Calcio e Finanza reported that the American fund was already preparing to take control of the club, appointing Creative Artists Agency to find a new CEO and sporting director.

However, a spokesperson for Elliott Management has now spoken to the site in question, affirming their faith in the current Rossoneri regime.

“Elliott has categorically not given any mandate to Creative Artists Agency (CAA) in connection with AC Milan or any other body,” the representative is quoted as saying.

“Elliott has complete confidence in the AC Milan Board and in the CEO, Marco Fassone."

The fund is owed around €300m from the takeover of Milan by Yonghong Li, having stepped in to fund the venture.

Money is owed by both the club itself and by Rossoneri Sport Investment, Li's holding company and if the loan isn't repaid Elliott can seize control of Milan.

https://www.football-italia.net/114270/elliott-‘confidence-milan-board’
0
 
User avatar
milanist
The Franck of Tanks
Posts: 10954
Joined: 05 Jun 2016, 01:25

Re: Finances

15 Dec 2017, 18:33

AC Milan request for voluntary agreement rejected

The CFCB Investigatory Chamber has decided not to conclude a voluntary agreement with AC Milan.

The Investigatory Chamber of the independent UEFA Club Financial Control Body has reviewed the application for a voluntary agreement made by AC Milan as part of the Financial Fair Play (FFP) regulations.

After careful examination of all the documentation and explanations provided, the Chamber decided not to conclude a voluntary agreement with AC Milan.

In particular, the Chamber considered that, as of today, there are still uncertainties in relation to the refinancing of the loans to be paid back in October 2018 and the financial guarantees provided by the main shareholder.

AC Milan will continue to be subject to the ongoing monitoring process and the situation will be assessed again in the first months of 2018.

http://www.uefa.com/insideuefa/protecti ... 997.html#/
0
 
User avatar
milanist
The Franck of Tanks
Posts: 10954
Joined: 05 Jun 2016, 01:25

Re: Finances

16 Dec 2017, 11:57

0
  • 1
  • 4
  • 5
  • 6
  • 7
  • 8

Who is online

Users browsing this forum: No registered users and 1 guest