Paul Singer is the effective owner of Project Redblack, the company that controls AC Milan and is based in Luxembourg, putting to bed recent reports suggesting otherwise.
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TV network Rai recently announced that they will be launching a programme investigating Milan’s ownership situation, alleging that Elliott Management are not in control of the club and it is in fact two financiers – namely Salvatore Cerchione and Luca D’Avanzo – who have a controlling stake in the club as the heads of the Blue Skye investment fund.
However, Calcio e Finanza reported that an official statement had arrived from a spokesman for the American fund Elliott, who clarified that they do indeed own over 90% of the club.
Now, the same source have published a new article which showed that Paul Singer is indeed the owner of Project Redblack, and therefore the American fund owns 95.73% of Milan.
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