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Old 12-04-2017, 22:19   #7051
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The Chinese are pushing for tomorrow rather than Friday because the number 14 is unlucky back home.
The only reason they'd try to avoid delaying the payment any further.
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Old 13-04-2017, 14:12   #7052
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@Sweey Come on, give us the juicy, final details of the deal. I trust you more than the newspapers.
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Old 13-04-2017, 14:56   #7053
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It's official.
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Old 13-04-2017, 18:15   #7054
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Originally Posted by rebelinho View Post
@Sweey Come on, give us the juicy, final details of the deal. I trust you more than the newspapers.
As you should Apologies, I was at work but following the news as it happened on the sly. Some of the developments and news as they unfolded.

10:12 (UK time), Han Li signed the definitive closing of the agreement.

10:19 Galliani entered the meeting with the lawyers overseeing the sale.

11:06 Galliani left that meeting via a secondary exit.

11:25 Sandwiches were served

13:00 The final amounts (of about €370m) were transferred into Finnivest's accounts, making the sale official.

13:14 Official details released. The total value of the deal was €830m (€740m - including €220m of debt - for the purchase of the club and a further €90m to reimburse Finnivest for amounts spent since July 1).

14:05 Adriano Galliani, addressing all other presidents and/or representatives of the other Serie A clubs at a league meeting announced the sale to those in attendance, receiving applause.

14:49 Silvio Berlusconi released his official statement, speaking of his pain at selling the club and thanking everyone involved in his 31 years of ownership.

Overall, what Berlusconi and Galliani did at Milan was astounding. The amount of joy I've experienced as a fan of the club is beyond what most experience in a lifetime and they're a massive part of that.

Unfortunately, recent years have seen us fall off a cliff and a change was desperately needed. Whether the new owners are the right people time will tell. I certainly hope so.

Quote:
Originally Posted by ronystan View Post
It's official.




There is a shareholders meeting tomorrow to induct the new board of directors and Finnivest's statement earlier stated "buyers also confirmed their commitment to undertake significant capital increases and liquidity injections aimed at strengthening AC Milan’s financial structure."

The €302m from Elliott Management has an interest rate of 11% which is much higher than the 8% loan Erick Thohir provided to Inter when acquiring them in 2013. There are rumours Li has five years to repay Elliott the full amount or that they can take ownership of the club. The obvious way to create that sort of income is an IPO although initial focus will be on merchandising in China and surrounding Asian countries.
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Old 13-04-2017, 23:30   #7055
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Apologies
None needed. Do you think you could give me a rundown of the involved names/comporations? I find it hard to keep track of who is who and who did what.

Quote:
There is a shareholders meeting tomorrow to induct the new board of directors and Finnivest's statement earlier stated "buyers also confirmed their commitment to undertake significant capital increases and liquidity injections aimed at strengthening AC Milan’s financial structure."
Everytime something like this (takeovers) happens I ask myself "Do they really think they'll make money out of this? That somewhere along the future the club will be so profitable it will somehow make up for the investment and the risks they took?" Because...

Quote:
The €302m from Elliott Management has an interest rate of 11% which is much higher than the 8% loan Erick Thohir provided to Inter when acquiring them in 2013.
is not that much. The best clubs in the world invest upwards of 100 million every season, they somehow have to be successful enough to afford that without further "capital injections" to remain healty financially, and being able to pay the debts.

Quote:
although initial focus will be on merchandising in China and surrounding Asian countries.
Speaking with no knowledge whatsoever, but that can't possibly give them enough money to warrant making that the main course of action.
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Old 14-04-2017, 09:37   #7056
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Originally Posted by rebelinho View Post
None needed. Do you think you could give me a rundown of the involved names/comporations? I find it hard to keep track of who is who and who did what.
I shall do that later once the new board have been confirmed.

Quote:
Everytime something like this (takeovers) happens I ask myself "Do they really think they'll make money out of this? That somewhere along the future the club will be so profitable it will somehow make up for the investment and the risks they took?" Because...

is not that much. The best clubs in the world invest upwards of 100 million every season, they somehow have to be successful enough to afford that without further "capital injections" to remain healty financially, and being able to pay the debts.
But you forget that we run at a massive deficit each year. The loss in our consolidated financial statements over the last nine years is €448.64m, all of which was covered by Finnivest.

Our 2016 results should be every bit as dire as 2014 (€91.265m loss) and 2015 (€89.302m loss) which immediately causes issues, hence the additional €90m that was paid to Finnivest to cover their costs from July 1st last year to yesterday.

Quote:
Speaking with no knowledge whatsoever, but that can't possibly give them enough money to warrant making that the main course of action.
Well considering merchandising sales for Italian clubs are typically poor, we'll see a bigger benefit than English clubs would, for example. The merchandising can lead to better sponsorship deals so the money accumulates in various different ways.

If we sold 100,000 extra jerseys (small number) at €40 each that's an extra €4m before factoring in the associated operating and marketing costs. Obviously that number can come tumbling down to say €1.5m but selling twice that many would allow for better economies of scale in production and a similar drop off in per-unit marketing costs, moving the profit, still excluding other small incidentals, to around €4m in this example.
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Old 14-04-2017, 16:11   #7057
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The new board are in.

Yonghong Li - president

Han Li - a representative of Rossoneri Sport Investment Lux

Lu Bo - president and board member of state-backed Chinese investment firm Haixia Capital
Managmeent Co. Ltd.

Renshau Xu -

Roberto Cappelli - name partner in the law firm Gianni Origoni Grippo Cappelli

Marco Patuano - former CEO of Telecom Italia (left in March 2016)

Marco Fassone - CEO

Paolo Scaroni - former CEO of ENI, Italy's biggest energy firm, which he left in 2014 to join Rothschild. As per Wikipedia, in 1992 he pleaded guilty to bribery charges and was arrested in connection with an electrical power station project in Brindisi. He was arrested again for one day in 1993 in relation to the "Tangentopoli" scandal which brought down Italy's post-war political parties. In 1996, he was sentenced to one year and four months in prison, but served no time since the sentence was below the limit for going to prison. So you could say he's a "proper" Italian businessman
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Old 15-04-2017, 15:09   #7058
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This is what happens when a ref has enough balls to do his job properly. Inter wasted some 4 minutes of the added 5, game deserved to go that far.

Also, Medel running to the referee to talk shit about it not being a goal, and all he does is point to his watch (GLT). Imagine if this technology wasn't implemented... Gotta love some facts that nobody can even try to argue about. I just hope that after 2018 we'll think the same way towards video refs.

Also, where's Ocampos?
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Old 15-04-2017, 15:21   #7059
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This is what happens when a ref has enough balls to do his job properly. Inter wasted some 4 minutes of the added 5, game deserved to go that far.
Exactly! Injury time didn't even begin until 91:15 or so and there was another minute's delay when Nagatomo was fouled by Locatelli.

At around 95:40 I thought the referee would blow the whistle because the ball had been blazed over and that's what would normally happen in such a situation. Orsato did everything by the letter to play until 97 minutes were complete, could even have gone a bit longer I suspect.

Quote:
Also, where's Ocampos?
Came on as a sub and went to play on the left while Suso and Deulofeu doubled up on the right and all our play went that way. Ocampos has been poor whenever he's played for us.
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Old 20-04-2017, 23:11   #7060
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Some clarity on the financing:

€180m loaned by Elliott Management to Rossoneri Sport Investment Lux with an interest rate of 11.5%.
€123m loaned by Elliott Management directly to AC Milan with an interest rate of 7.7%.

The full amount must be repaid as a lump sum in 18 months and during this period they will help Yonghong Li to find other investors.
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Old 30-04-2017, 19:28   #7061
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What will happen now that UCL is impossible? Less money to invest? Changes in the staff (#Vincenzout)? And the type of players targeted surely has to change as well... UCL presence is always a big selling point.
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Old 30-04-2017, 19:32   #7062
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What will happen now that UCL is impossible? Less money to invest? Changes in the staff (#Vincenzout)? And the type of players targeted surely has to change as well...
Champions League was never the target or part of the planning, Europa League was and still is. The way we've fucked up in the last two matches is pretty disgusting when we have Roma and Atalanta coming up. Failure to qualify isn't likely to change a great deal and Montella is staying.

The amount for the transfer market is fixed, we're just not sure if it is closer to €50m or €150m. We're trying to sign Franck Kessie from Atalanta for €28m - Roma have agreed that fee but failed to agree personal terms. We've agreed personal terms and submitted a bid of the same amount though perhaps made up differently. He supposedly favours us because he believes he'll quickly become a key player for us whereas chances at Roma will be more limited.
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Old 13-05-2017, 13:20   #7063
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Great signing, I'll never understand how Man Utd or Liverpool passed on the man.

Does this confirm De Sciglio's departure?
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Old 13-05-2017, 13:25   #7064
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Great signing, I'll never understand how Man Utd or Liverpool passed on the man.

Does this confirm De Sciglio's departure?
Rodriguez? If so, not done yet but an agreement is in place. De Sciglio's contract is up next summer and he says he won't renew so given his shit performances for the last three years, he'll go to Juventus (or Napoli).

Also agreements in place for Musacchio (€18m) and Kessie (€28m) but the latter could still fall through. My understanding of the Musacchio deal is that it won't be officially announced until Serie A and La Liga have finished.
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Old 13-05-2017, 13:28   #7065
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Rodriguez?
Yep, FootballItalia says "it's done" because Bild is now reporting it as well.

http://www.football-italia.net/10250...ilan-done-deal
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