A meeting was held today between the AC Milan Board of Directors during which they approved the sale of the club, according to a report.
According to the latest from MilanNews, the Milan Board of Directors met on Saturday, and during the meeting the members expressed a strong appreciation for the outcome of the transaction between Elliott Management and RedBird.
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There was one person who did not express his approval and that was Salvatore Cerchione, who resigned from the Board of Directors as a result. However, it is an overall positive opinion that is must added to that recently expressed by the APA, the Small Shareholders’ Association.
During a piece on the Financial Times, 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’. Possible legal action against Elliott now beckons.
