AC Milan and their owners Elliott Management and RedBird Capital are not worried about Salvatore Cerchione’s resignation from the board of directors.
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. He is part of Blue Skye who own 4.27% of the parent company of the club, and he revealed that he is feeling ‘unhappy’ and ‘confused’ about the takeover, with reports of possible legal action against Elliott emerging since.
According to MilanNews, the resignation of Cerchione does not worry Milan nor does the position of Blue Skye, which as mentioned holds 4.27% of Project Redblack, the company that controls the 100% of Rossoneri Sport Investment Sarl and which in turn controls 99.93% of Milan.
They also cite Calcio & Finanza in reporting that Arena Investors – institutional asset manager who has already collaborated with Blue Skye and who has invested the capital for a 4.27% stake – are ‘absolutely satisfied’ with the RedBird-Elliott transaction. ANSA maintains that Elliott ‘are in no way worried by the position of Blue Skye’.
