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AC Milan Board to Meet May 2nd to Discuss Ownership Problems

More chaos in a long and drawn out ownership saga

AC Milan v Benevento Calcio - Serie A
Rino is all of us with the owner
Photo by Emilio Andreoli/Getty Images

The AC Milan shareholders have had enough.

They have scheduled a big meeting for May 2nd, according to The Nation.

The specifics of this particular meeting have been revealed, told here:

According to reports from Italy, shareholders will discuss extending the delay for repayment of part of a 50 million-euro ($63 million) loan by a few months.The deadline could be pushed back until June 2019 for the repayment of 10 million euros while the remainder of a 303 million-euro bridge loan provided by the US fund must be repaid by October this year.

The change in the terms would give Milan greater financial acceptability to meet UEFA’s Financial Fair Play (FFP) regulations.

UEFA has long questioned the stableness of the Milan ownership group, even since before the purchase. So it’s interesting to see if a deal could be struck soon.

It is no secret the group has been trying to refinance a large portion of a loan, that was used to buy Milan with the lender, U.S. based hedge fund Elliot Financial Group.

To add to the worries and troubles, Milan are in desperate need of qualifying for Europe to use some of that extra money for a variety of reasons. They did not help their cause this past weekend either, losing to lowly and a 10 man Benevento 1-0 at home.

Still, there is four matches left to get back to Europa League hopes with Sampdoria and Fiorentina just three points behind them and Atalanta one point ahead.

That sixth spot Atalanta hold is the key of course, because it is the last spot that inserts you in to Europa League Qualifying stages.

There is one other option though, much tougher.

Milan will also play Juventus in the Italian Cup final on May 9, when a win would earn them a place in the Europa League.

Many worries and few answers.

Let us know your thoughts, comment below!