"We are proud of what AC Milan has accomplished since Elliott acquired the club in 2018. Under Elliott's ownership and subsequently RedBird's, the club's financial and sporting performance have improved significantly and the team has won two major trophies, including the 2021/22 Scudetto. The stewardship of a historic institution like AC Milan is an important responsibility, and we wish RedBird continued success in the future."
"It was back in the summer of 2018 that Elliott took control of the club, as the Chinese owner Yongong Li defaulted on his loan. Immediately, the American hedge fund began work on balancing the books, taking the club from a dire financial situation to a very solid one. Elliott's ownership concluded with the Scudetto in the 2021-22 season, after which the club exchanged hands to RedBird Capital. However, since a vendor loan was involved in the deal, Gordon Singer and Dominic Mitchell (of Elliott) remained on the board of directors."
Elliott Management took control of AC Milan in summer 2018 after owner Yongong Li defaulted on a loan. The hedge fund balanced the club's finances, moving it from a dire situation to a solid one. Elliott's tenure culminated in the 2021–22 Scudetto, and ownership transferred to RedBird Capital. A vendor loan in that deal kept two Elliott directors on the club board. Comvest financing enabled full repayment of the vendor loan, triggering the departure of Gordon Singer and Dominic Mitchell from the board. The departing statement expressed pride in the club's financial and sporting improvements and wished RedBird success.
Read at SempreMilan
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