NEWS
Thursday December 14 2017
Elliott: ‘Confidence in Milan board’

A spokesperson for Elliott Management insists the hedge fund has “complete confidence” in the Milan board.

The website Calcio e Finanza reported that the American fund was already preparing to take control of the club, appointing Creative Artists Agency to find a new CEO and sporting director.

However, a spokesperson for Elliott Management has now spoken to the site in question, affirming their faith in the current Rossoneri regime.

“Elliott has categorically not given any mandate to Creative Artists Agency (CAA) in connection with AC Milan or any other body,” the representative is quoted as saying.

“Elliott has complete confidence in the AC Milan Board and in the CEO, Marco Fassone."

The fund is owed around €300m from the takeover of Milan by Yonghong Li, having stepped in to fund the venture.

Money is owed by both the club itself and by Rossoneri Sport Investment, Li's holding company and if the loan isn't repaid Elliott can seize control of Milan.

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