Bank transfer not received, Elliott ready to take over from Yonghong Li. And this is just the essence of yesterday’s events of the last 24 hours. The US fund declared it had not received a refund for the 32 million euros from the Rossoneri president and that immediately after midnight it had started the procedures to take control of the club.
Now everyone is expecting an official communication on the club’s future and by the end of next week Elliot could officially become the new owner of AC Milan. It is a scenario that all the parties were hopping to avoid but that doesn’t mean Elliot are getting caught unprepared.
The American fund is already preparing a new revolution at the management level just 15 months after the change of ownership from Fininvest to Yonghong Li. The Rossoneri are in the middle of a new transition. It’s no secret that the Americans never liked Marco Fassone or Mirabelli and is recruiting Paolo Maldini for an important role at the club.
Only in the coming days the plans of the American fund will be more clear. The possibility of remaining for a few months before re-selling the club’s shares is quite concrete but Elliot may also chose to put AC Milan immediately for sale and look for an investor interested in acquiring AC Milan’s shares at a discount compared to the real value of Milan.