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Elliott Management Now Owns AC Milan

Elliott Advisors (UK) Limited now owns Italian soccer team AC Milan; the team's previous owners defaulted on its debt obligations to Elliott. Having assumed control, Elliott’s vision for AC Milan is straightforward: to create financial stability and establish sound management; to achieve long-term success for AC Milan by focusing on the fundamentals and ensuring that the club is well-capitalized; and to run a sustainable operating model that respects UEFA Financial Fair Play regulations. As first measures, Elliott intends to inject €50 million of equity capital to stabilise the club’s finances, and plans to inject further capital over time to continue to fund...