AC Milan has recently denied previous reports that Elliott's influence has increased at the RedBird-owned club. A letter was also published in La Repubblica pages which reads the following words:
Milan: "Elliott is a pure lender"
Regarding the relationships between Elliott, RedBird, and Milan, AC Milan clarifies that:
- The RedBird Capital ownership has reduced the capital share of the loan from Elliott to €489 million, confirming Elliott's position as a pure lender, with its presence on the Board of Directors limited to 2 of its members out of 12.
- The MI-Stadio company is limited to managing the operations of the Meazza in the current situation and is not involved in the new stadium project, which is being jointly carried out by AC Milan and FC Internazionale Milano.
Mi-Stadio's Board of Directors is currently composed of three members: Francesco Ferrini, independent, president; Massimiliano Catanese, Co-AD, in Inter's quota; Stefano Cocirio, Co-AD, in AC Milan's quota. Before joining AC Milan, where he is Chief Financial Officer, Stefano Cocirio permanently ended all his relationship with Elliott after working there for more than 7 years.
