It seems the days of presuming that Elliott Management would look to sell AC Milan on as soon as possible are over.
In fact, the American hedge fund continue to show their willingness and determination to restore Milan back to a healthy position financially after having inherited a nightmare situation following Yonghong Li’s lavish ownership style.
According to Calcio e Finanza, Elliott’s total investment into Milan’s coffers is around €642.25m and can be broken down into several payments.
A payment of €86.75million was made to close the financial year ended 2019, which must be added to the €383.5million paid in between August 2018 and November 2019.
Overall, the Singer family have injected €470.25m plus around €300m paid to take total control of the club from Yonghong Li under the parent company name Project RedBlack.
There must be a deduction of €128m though due to debt deriving from two bonds issued in June 2017 that were owed to Elliott as they have now been wiped off. Elliott’s total net investment for the Milan therefore amounts to €642.25m as of 10 September 2020.
