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+--- Thread: Milan's Financial Position (/showthread.php?tid=1106)
RE: Milan's Financial Position - AC_Troy - 07-08-2018
Jay-Z buying Milan[attachment=192]
RE: Milan's Financial Position - reza - 07-08-2018
LOL
RE: Milan's Financial Position - somedevil - 07-08-2018
(07-07-2018, 11:24 PM)AC_Troy Wrote: Yonghong Li is desperately trying to sell Milan by Monday to a new investor who should not be Commisso, the Ricketts or even Alisher Usmanov. He left along with Fassone to London with this mission: present a new buyer to Elliott on Monday
[Corriere della Sera]
If Elliott rejects the potential new buyer, which seems possible, Yonghong Li will start a legal battle that will bring the parties in front of Luxembourg court [CorSera]
Why do I have a feeling that things are about to get a lot worse for us.
RE: Milan's Financial Position - Kastriot - 07-08-2018
It will not get worse. There is clear and serious interest by some big names out there, who are not only billionaires but also investors in sports. They now how sports operates from a business perspective. Li is desperatly trying to offload Milan before Elliot takes over, as I do not see any legal basis to go against Elliot. I remember clearly when Fassone once said that if we do not pay our due to Elliot, the worst thing that could happen is for them to take over Milan. I mean, when the CEO says that it means it is very clear what the deal was. We give you the money, you pay us with interest. If you fail to comply we take over. The deal was high risk/high rewards system, so it is not a surprise that it will come to this.
As per Elliot, they are a financial institution, they will sell to the highest bidder ASAP no questions asked, just like our beloved Silvio did. The good thing is that all parties are genuinely interested and no a thing or two about sports.
RE: Milan's Financial Position - sylrus - 07-08-2018
it will get worse if li decide to go to the court because elliot doesnt give him the times that he wants so he can sell the club on his terms, and i guarantee you he will make it hard.
RE: Milan's Financial Position - Sampinjon - 07-08-2018
If there ( in that loan contract of theirs ) is part "if Li fail to repay until *date* - Eliot will takeover club" and both sides signed it - than there is no time to sell club on his terms...All his "times" expired at moment he failed to repay...and there is no court which will not reject anything he attempts.
RE: Milan's Financial Position - nefremo - 07-08-2018
If Li presents a buyer that will pay Elliot back including the interest and the 32M....then Elliot will agree. Apparently there is that clause in the contract that says if Elliot takes over, any money in excess of the loan + interest at the time of sale will go to Li. So if this is true, Elliot stands to make nothing more if they take over and sell, than if Li brings them a ready buyer. As a matter of fact it saves them the trouble. Taking over Milan will cost them a lot of money in legal fees. Selling Milan again will cost them money. Time itself is money. They're better off agreeing to a sale now if Li already has a buyer....especially if they won't make any more money if they were to sell themselves. That's if that clause is true...which it actually has been reported multiple times by various sources so it might very well be true.
The ONLY way Elliot will not agree to a sale to Li's buyer, is if they have an agreement with someome that is close to them. A favor for a favor type of thing. For example Stephen Ross.
But, a lot of money is involved and I think in the business that they are, cash is king. They'd rather get the money right away and reinvest it somewhere else rather then go through legal proceedings of taking over the club and deal with Li's possible appeals and what not. All of that can take a long time.
RE: Milan's Financial Position - Sampinjon - 07-08-2018
Yes ,but if Eliot have buyer on hold waiting for them to takeover (as some reports sugest) and Li don't ,than they will look to take over and sell as soon as possible and get over with this tragedy once and for all. Li can appeal ,but since law is on Eliot side he can't do nothing except to stall things a little. I'm sure that Eliot have some "influence" to speed up court things and arrange it sooner than later.
RE: Milan's Financial Position - nefremo - 07-08-2018
Well if Li doesn't have a buyer then forget everything I just wrote. I was saying that in face of the reports that he'll present Elliot a buyer on monday willing to pay everything they are owed. In that case, they'll accept, I'm sure. Especially if that clause is frue.
RE: Milan's Financial Position - AC_Troy - 07-08-2018
Yonghong could sign a preliminary contract with a Russian businessman who should become Milan’s majority shareholder. Li would remain in minority and collect the sum needed to repay Elliott fund tomorrow [Il Sole 24 Ore]
However, Li is now in default and Elliott could refuse any offer he presents and enforce the pledge on Milan shares tomorrow.
Li bases his hope on a quirk in the contract according to which Elliott have to enhance Milan with a protection process for Li himself and eventually give an extra profit compared to the credit. However everything seems very complex for him to be completed in such a short time.