Large AC Milan Shares Are Not For Sale by Elliott Management

DBasia.news –  Focusing on building a new stadium, Elliott Management, owner of AC Milan, denied selling the club’s large shares.

AC Milan suffered the biggest loss in club history in the 2018-2019 season. Through documents signed by CEO Ivan Gazidis, I Rossoneri confirmed a loss of 145.9 million euros.

There is about a difference of 20 million euros between the loss of AC Milan in the 2018-2019 season with 2017-2018. Their total income also declined in the 2018-2019 season.

Even so, the Italian economist, Luca Pagni, called it part of a strategy to sell the Rossoneri. AC Milan’s spending on loaning players is quite large.

Luca Pagni’s analysis is raw in the hands of Elliott Management’s spokesperson. According to him, the company intends to restructure AC Milan.

“Of course Elliott Management has no intention of selling AC Milan in the near future. There is no discourse of change of ownership,” said the spokesman.

“The most possible option is to build a new stadium around the San Siro area. We have sent the proposal and request to the City of Milan.”

“At present, Elliott Management has no other projects for AC Milan. We have the status quo and intend to restructure AC Milan,” he continued.

Elliott Management has AC Milan since 2018. This is after the previous owner, Li Yonghong, was unable to repay a debt of 303 million euros.