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 AC Milan’s transformation.
Paul Singer, Founder, Co-CEO and Co-CIO of Elliott Management Corporation said, “Financial support, stability, and proper oversight are necessary prerequisites for on-field success and a world-class fan experience. Elliott looks forward to the challenge of realising the club’s potential and returning the club to the pantheon of top European football clubs where it rightly belongs. Elliott also strongly believes in the value-creation opportunity at AC Milan.”