RedBird should be the new owners of AC Milan with Gerry Cardinale having already put pen to paper on preliminary contracts. 70% of the club's shares will be directed towards the new ownership while Elliott Management Corporation should stay in the minority with the remaining 30%, reports say.
According to the latest news reported by Italy-based outlet, Calcio e Finanza, three figures chosen by Elliott will remain in the board of directors to represent them: there is Gordon Singer who is in charge of the management of the London offices of the fund, Giorgio Furlani, Portfolio Manager of the fund in Italy and Stefano Cocirio, financial analyst also on behalf of the fund.