Eliott Group responds to AC Milan takeover rumors

14 dic 2017

It’s no secret that AC Milan’s future, financially speaking, is very much in doubt. With the club’s true ownership shrouded in mystery, and mountains of debt coming due, new owner Yonghong Li is at tremendous risk of losing control of the club.

The most immediate risk comes from American hedge fund Eliott Group. The firm helped finance Mr. Li’s takeover from Silvio Berlusconi last year. Now, with less than a year before their loan to Mr. Li comes due, speculation is rampant that the fund will take control of the club next October. Indeed, reports even suggest they’ve begun searching for a new manager to replace Gennaro Gattuso, should they gain control.

On Thursday, the American group responded to those rumors. Speaking with Calcio e Finanza, a spokesperson for the Eliott Group steered clear of the reports. “Elliott has not, categorically, given any mandate to Creative Artists Agency (CAA) in relation to AC Milan or other. Elliott has full confidence in the Board of AC Milan and CEO Marco Fassone.”