Lille president aims dig at AC Milan: 'Elliott funded them to be bought'

13 January at 10:20
In recent weeks, there have been several rumours suggesting that Elliott will sell their majority stake of AC Milan, with Bernard Arnault looking like the most likely candidate to take over. In an interview with Financialtimes.com, Lille president's further fueled these rumours.
 
Elliott are also involved in the French club, having loaned the president - Gerard Lopez - €140m back in 2018 as reported by Calciomercato.com. The loan subsequently, has double-digit interest rates and must be repaid by 2021.
 
However, when asked about the matter in the interview with Financial Times, the president assured that the hedge fund's motives are different, compared to the situation of AC Milan. As he explained it, they only funded the Rossoneri to resell later.
 
“[Elliott] funded AC Milan to be bought [by another party at a later stage],” said Mr Lopez. “They didn’t fund this club to be bought. They funded this club to start a process of investing in players, creating value, selling some of the players, keeping others to grow the club.”
 
With the rumours of a potential Arnault takeover coming in thick and fast, it looks like Elliott have decided to sell the club already. So far, things haven't exactly gone as planned, as the Rossoneri are currently sitting in 10th place.

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