The month of September will certainly not be a quiet one for Elliott Management and the Singer family in particular, a report claims.
Today’s edition of Il Sole 24 Ore (via SempreMilan.it) presents the Singer family’s agenda for the month of September. The current owners of Milan on will carry out the closing of the €1.2bn takeover involving RedBird Capital on September 4, a figure in which they will participate through a vendor loan that could reach €600m.
The following day, on September 5, a hearing is scheduled in Luxembourg which will decide whether the seizure of the €394m wanted by the former Rossoneri owner Yonghong Li will be maintained, or whether the Singer family’s appeal to regain possession will be upheld.
The Chinese businessman is asking for compensation for what happened in July 2018 when he lost the ownership of Milan to the American fund, believing that he contributed to the increase in the club’s value that Elliott now stand to profit from.