DBasia.news – La Gazzetta dello Sport reported AC Milan’s budget transfer under Elliott Management ownership. Apparently, the amount is not too big.
Elliott Management is taking over AC Milan’s ownership from Yonghong Li last week on Tuesday (10/7). This takeover was due to Yonghong Li’s debt to Elliott Management.
As a result, AC Milan was two times having an ownership change within a past year. Yonghong Li just got I Rossoneri from Silvio Berlusconi back in 2017.
However, Yonghong Li bought AC Milan with the debt from Elliott Management. Besides, he also made AC Milan as the debt collateral.
After officially taking over AC Milan ownership, Elliott Management is reshuffling the structure. Marco Fassone was fired as the CEO.
Besides, Elliott Management also appointed Paolo Scaroni to be AC Milan’s CEO. Scaroni will be accompanied by new names in the AC Milan board of directors.
According to La Gazzetta dello Sport, the new board of directors will lead AC Milan for at least 2 years. Everyone is under contract until June 30, 2020.
The same newspaper claimed Elliott Management will invest 150 million euro (Rp2,54 trillion) for AC Milan. This amount will be divided into some parts.
From that amount, there will be only 50 million euro (Rp849 billion) used as transfer budget. The rest will be used to handle the operational issues.
With this little amount, AC Milan will be difficult to get the new players. I Rossoneri must sell before recruit new player.