AC Milan’s owners Elliott Management are both emotionally and financially invested in turning the club around, according to a report.
The Athletic‘s James Horncastle has given an update on the current situation at the Rossoneri, touching on the fact that CEO Ivan Gazidis was spotted alone in the stands at San Siro for Sunday’s defeat to Genoa with directors Paolo Maldini and Ricky Massara nowhere to be seen.
The report claims that he was ‘merely observing protocol as per the COVID-19 health and safety guidelines’ and that the fact he looked forlorn in the stands simply fit both the local and national media narrative that everything is in utter crisis.
The Athletic go on to state that football decisions have ‘always been collegial’ since Elliott took over the club in 2018. Gazidis has not become so powerful overnight or even over the past few weeks; he’s the CEO and as consequently ‘everyone answers to him’.
Hendrik Almstadt and the chief scout Geoffrey Moncada ‘have as much a say now as they did upon joining’, Horncastle continues.
“It’s been an intense week at Casa Milan,” a source told the outlet, which also understands that Elliott are ‘as emotionally invested as they are from a financial point of view’ – pouring cold water on rumours that Bernard Arnault has completed the acquisition of the Diavolo.
“For those fans who believe the club would be better off in the hands of Bernard Arnault’s luxury LVMH group, the situation would be exactly the same. Under FFP, the club can only spend what it earns regardless of the wealth of the owners,” they state.