Dubai, Russian and US interest in Milan: reports

Source:AFP Published: 2018/3/15 22:08:41

Dubai businessman Saeed Al-Falasi is reported to be interested in buying Italian giants AC Milan as the club struggle with debts under new Chinese owner Li Yonghong, according to reports on Thursday.

Gazzetta dello Sport reported that Emirati Al-Falasi, owner of the International Triangle group, is among those interested in taking over the club.

There is also interest from a US-based fund and a Russian consortium led by the minority shareholder of Arsenal, the billionaire of Uzbek origin Alisher Usmanov, according to La ­Repubblica.

There have been questions about the financial stability of the Chinese-led consortium that purchased the club for 740 million euros ($918 million) in April last year. The seven-time European champions have a massive loan for repayment and are in trouble with Financial Fair Play restrictions, with Bank of America Merrill Lynch given the mandate to refinance debts.

AC Milan are working to refinance more than 300 million euros in high-interest loans from US hedge fund Elliott Management. If the club are not able to refinance by October, the US hedge fund will seize control of the club.

Posted in: SOCCER

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