The amount of the vendor loan that Elliott Management will provide to RedBird Capital for the takeover of AC Milan will be less than originally thought, a report claims.
According to what today’s edition of La Gazzetta dello Sport (via MilanNews) reported this morning, the vendor loan (the loan Elliott will give RedBird to complete the purchase of Milan) should drop to €550m.
It was written into the documents that Elliott would provide up to €600m which is half of the €1.2bn total takeover price and it was expected that RedBird would take a loan of that amount, but it has now been lowered by €50m it seems.
Milan will officially pass into the hands of RedBird in the next few hours but in the meantime, the paper continues, more time (30 or more probably 60 days) have been agreed to define the possible entry of new investors in Gerry Cardinale’s project for the Rossoneri.
