getty images December 21, 2024, 10:07 am

The debt of the Italian Milan to the Elliott Management fund was reduced as a result of the refinancing. This was reported by the official website of the Milan club.

“The refinancing includes an additional investment of 170 million euros from Milan’s owner, RedBird Capital, as a result of which the principal amount of the loan has been reduced to 489 million euros, with a maturity date of July 2028,” the club said in a statement.

In August 2022, Milan was acquired by the company RedBird Capital from the investment fund Elliott Management, which got it due to the insolvency of the previous owner – Yonghong Lee.

By selling a majority stake, Elliott extended credit to RedBird. Today, Milan announced the refinancing of the loan.