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Elliott looking to sell AC Milan?

According to Lille President Gerard Lopez, Elliott Management are looking to help his club grow but that they intend to sell AC Milan soon in order to make a profit.

The French club have been funded by a €140 million loan from the US hedge fund, who also control the Rossoneri after previous owner Yonghong Li defaulted on the repayments of a €300 million loan he used to buy the club from Silvio Berlusconi.

“[Elliott] funded AC Milan to be bought [by another party at a later stage],” Lopez told the Financial Times. “They didn’t fund this club to be bought, they funded this club to start a process of investing in players, creating value, selling some of the players, keeping others to grow the club.”

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