Some rather concerning news has arisen as Milan board member Salvatore Cerchione intends to take Elliott Management to court over the sale of the club, a report claims.
During a piece on the Financial Times, Milan board member Salvatore Cerchione criticised the club’s takeover process and in particular how out in the open a lot of the information has been, labelling his group Blue Skye – who own 4.27% of the parent company of the club – as being ‘unhappy’ and ‘confused’.
According to La Gazzetta dello Sport (via Calciomercato.com), Cerchione has decided to resign from the board of directors of Milan and even go a step further. He intends to go to a court in Luxembourg (where Project Redblack and Rossoneri Sport Investment Sarl, the two companies that control Milan, are registered) to contest the sale of the majority shares of the club.
Cerchione believes that he was not involved in the operation, despite the fact that 100% of Project RedBlack was required to give the green light to RedBird Capital.
Cerchione could decide to also apply to the Italian ordinary justice against Elliott, but at the moment it is not known whether a possible lawsuit could lead to complications regarding the full closing of the operation, which is destined to arrive by September after the signing on June 1.