CorSera: Elliot to stay owner of Milan for at least one year, here’s why
If you are expecting AC Milan to be sold soon you’ll be left disappointed. Elliot aims to remain owner of the Rossoneri for at least one year.
The press release of Tuesday evening, with which Elliott announced that it had become the new owner of AC Milan, explained perfectly what the intentions of the American fund are: in particular, we are talking about a “long-term” project to relaunch AC Milan club and try to bring it back where it deserves. But how long are we talking about?
AT LEAST ONE YEAR – Reports Il Corriere della Sera this morning, explaining that it is difficult to answer this question, but still there is a minimum time, and that is one year because apparently until that moment it seems that the extra income from the resale Milan would end up in the hands of Yonghong Li. We are talking about the surplus beyond the figure of about 400 million euros with which the company passed in the control of Elliott.
FINANCIAL STABILITY – The first move by the American fund of Paul Singer will be a capital increase of 50 million euros to meet the cash requirements, then, other decisions will be taken to revive Milan and give back that financial stability that has been missing for too long. Elliott’s intentions are very clear, but now it’s time to move from words to deeds.
