CF: Elliott Management spokesperson responds to RAI – “Elliott holds 96% of the Club”

By Oliver Fisher -

An Elliott Management spokesperson has responded to accusations that the hedge fund do not own a controlling stake in the club.

On Friday, TV network Rai announced that they will be launching a programme on Monday investigating Milan’s ownership situation, alleging that Elliott Management are not in control.

The well-known broadcaster announced that they were planning on premiering a program on Monday during which an in-depth investigation into the club’s true ownership model will come to light.

However, they postponed the episode for reasons not yet disclosed, but they are supposedly aiming for next Monday’s episode now.

According to what Calcio & Finanza are reporting though, an official statement has arrived from a spokesman for the American fund Elliott, who is keen to clarify immediately the position of Elliott.

“Elliott Associates LP and Elliot International LP, jointly have complete control of the holding company to which AC Milan belongs. Elliott holds 96% of the Club, while the remainder belongs to our partners,” they said.

“Elliott is fully committed to bringing AC Milan back to the top of European football, leveraging the principles of financial stability and proper supervision, now already firmly in place. Elliott has financed AC Milan’s relaunch process in recent years, with over 600 million euros invested in the club.”

That appears to clear that up then for the time being, or at least until RAI decide to air their feature, indeed if they do at all.

Tags AC Milan