Elliott Management Corporation are the owners of the AC Milan football club. After taking over from Chinese businessman Yonghong Li who defaulted on his loan repayment, the American hedge fund started working on a rebuild.
The fund owned by Paul Singer appointed new management and mainly focused on the balance sheet of the Serie A giants.
Decreasing the wage bill and offloading players with huge salaries with no value returned on the pitch was also a top target for the club. Achieving financial sustainability is the key to put the club in a better position.
Now, news regarding a potential sale of the club has emerged with InvestCorp reportedly trying to find an agreement with Elliott.
Milan Reports contacted InvestCorp but they refused to make a comment. As per our sources, though, there are ongoing talks between the club owners and the Bahrain-based company for a sale soon. (More details here)
Now, Milan Reports bring you more news regarding this topic and this time with a comment from the Public Relations office employed by Elliott:
"Speculation around a sale is natural for a club like AC Milan. Since taking over the club four years ago, and even more so recently, in light of the financial and sporting performance of the club, Elliott has received interest from investors."
The Elliott spokesperson added:
"But, as a matter of protocol, Elliott does not comment on any of the outreach from prospective investors."
