NEWS
Friday October 18 2019
Elliott: Milan not for sale

Elliott Management insists it has “absolutely” no plans of selling Milan and that it is committed to helping finance a new stadium.

Financial expert Luca Pagni suggested yesterday that Milan’s record €145.9m losses were part of an Elliott strategy to ‘clear’ the decks for a sale.

However, a spokesperson for the firm told Affariitaliani.it when asked about a potential change of ownership: “Absolutely not.”

Instead, they made it clear Elliott was behind proposals to build a new San Siro with city rivals Inter.

“The only option on the table is to build a new stadium in the San Siro area.

“The proposals and requests put to the City Council of Milan were based on this idea. There’s no other project elsewhere.

“The status quo and restructuring aren’t viable tracks.”

The hedge fund took control of the Rossoneri in the summer of 2018 after previous proprietor Li Yonghong defaulted on a €303m loan it lent him to buy the club.

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