MILAN — Elliott Management has promised to inject 50 million euros ($66 million) in capital after taking over Italian club AC Milan. MILAN & LONDON--(BUSINESS WIRE)--Ownership and control of the holding company that owns AC Milan has today been transferred to funds advised by Elliott Advisors (UK) Limited (“Elliott”). A few days ago AC Milan News reported that Czech billionaire Daniel Kretinsky had offered 600 million euros to acquire the Rossoneri from Elliot Fund. Elliott Management Corporation is a company that specialises in distressed debt acquisitions and has pledged to inject €50m as Milan go through the off-field changes. In July 2018, Elliott Management was confirmed as the official proprietor of Italian football club AC Milan with 99.93% of the stakes of the club, after erstwhile owner Li Yonghong defaulted on his €415M debt to Elliott. In July 2018 Elliott Management Corporation became the official proprietor of AC Milan club but the intention of the American owners is not to stay for long. The hearths of thousands AC Milan’s fans probably missed a beat last Friday when the president of French soccer team Lille Gerard Lopez claimed that Elliott Management fund—AC Milan … A statement from the Corporation said: “Ownership and control of the holding company that owns AC Milan has today been transferred to funds advised by Elliott Advisors (UK) Limited (“Elliott”). …” E. Overview of the UEFA Financial Fair Play System 15. Elliott Management Corporation is a company that specialises in distressed debt acquisitions and has pledged to inject €50 million (A$79 million) as Milan go through the off-field changes. Tag: Elliott Management Corporation Milan confirm net losses of around €195 million for the 2019/20 financial year: “The results are in line with... Meytar Zeevi - Oct 9, 2020 0 finances, and plans to inject further capital over time to continue to fund AC Milan’s transformation … Elliott Management Corporation manages two multi-strategy funds which combined have approximately $35 billion of assets under management. In response, Milan's owners have spoken out to clarify their position. Calcio e Finanza are reporting that an official statement has come from Elliot disclosing their ownership stake in the club. Former owner … Elliott Management have taken over control of AC Milan after Yonghong Li â defaulted on debt obligationsâ and pledged to inject â ¬50m in capital. Elliott Management Corporation is a company that specialises in distressed debt acquisitions and has pledged to inject €50m as Milan go through the … RAI in Italy were supposed to air an expose on the ownership of AC Milan but put off the premiere for an undisclosed reason.