Some further light has been shed regarding the story that Elliott Management still retain some equity in AC Milan.
This morning’s edition of La Gazzetta dello Sport ran the story that the investigation by the Milan Prosecutor’s Office into the ownership situation at AC Milan will soon be officially closed, as they did not find anything worth taking further.
Read SempreMilan ad-free and get access to exclusive news. Click here for a free trial!
However, the newspaper also claimed that documents handed over to them showed that Elliott Management actually retain 5% of the Rossoneri, despite the fact that they had supposedly fully left the scene.
Elliott’s ‘stake’: The truth
As we have learned, the request by the Milan Public Prosecutor’s Office to dismiss the case is obviously positive news. The request comes following further reviews and international rogatory requests that found no evidence supporting the initial allegations.
The matter had already been fully dismissed on the sporting side by the FIGC Federal Prosecutor’s Office, so now that side of things should be put to bed fully after the investigation began in the spring of 2024.
Moreover, reference to the alleged ‘5%’ does not in any way represent an equity stake in the club. It does not constitute equity, shares or any governance or information rights.
It refers solely to a warrant included as part of the 2022 sale transaction – this would only provide for a limited economic participation in the event of a future sale of the club.
The vendor loan was fully repaid as part of the recent refinancing, while the ownership and control of the club have been and remain fully with RedBird.
