A dispute has emerged between the Blue Skye fund and Elliott Management regarding the procedure by which the preliminary agreement was reached for the sale of the majority of shares in AC Milan.
Bloomberg (via Calciomercato.com) report how ‘the point of no return’ was represented by the resignation of Salvatore Cerchione – one of the two founders of Blue Skye – from the board of directors at Milan.
Who are Blue Skye? They own 4.27% of Project Redblack (the company that owns 100% of Rossoneri Sport Investment Sarl, which in turn controls 99.93% of Milan). Cerchione subsequently initiated two lawsuits with two different matrices at the Luxembourg court.
Why Luxembourg? It is the location of the headquarters of the two companies to which Milan belongs. The two grievances are as follows: the first is the sale of the Rossoneri itself, and the second is the exclusion of one of the members of Blue Skye from the board.
By initiating the lawsuit, Blue Skye has two objectives in mind: to block the sale of Milan to RedBird Capital and to obtain substantial compensation for damages. What filters from Elliott Management is ‘absolute calm and confidence’ that this will not affect the sale of the club in the slightest.
Hope they get rid of brokebird….Cardinale is just a guy managing other peoples money.
hope they get rid of you first
Lol, # brokebird
I’m sure Cardinale have more money than you and your parents right now. If you called him broke then he probably gonna called you poor as F lol
If we could get rid of this turd that hasn’t managed to sign staff contracts within’ a month it would be great. But it won’t happen.