Elliott Management’s time at AC Milan may be coming to an end, but they deserve immense credit for the work they have done in the last four years.
Corriere dello Sport (via MilanNews) reports how Elliott have restored the club’s accounts, increasing the value of the Rossoneri with still ample room for growth and have helped revive Milan’s on-field fortunes too by imposing a clever recruitment strategy that has allowed many young talents to grow and prosper.
The previous ownership of Yonghong Li left the Rossoneri in dire straits with significant debts. Elliott then acquired Milan for €300m and in recent weeks they have received offers from Investcorp and RedBird for around €1.2bn which shows the work that they have done.
Factors such as imposing a salary ceiling and avoiding reckless investments have been helpful, all while increasing revenues as the club managed a turnover of €300m last season thanks also to the return to the Champions League.
The team have secured Champions League qualification for the 2022-23 season and could yet win the Scudetto if they get the right result this weekend, yet there is still a lot of room for improvement and growth.
On the playing side, the Rossoneri have a squad that season after season is increasing its value which consequently increases the value of the club, as well as the appeal of the brand globally. Elliott are listening to the offers that have arrived but it must be stressed that they have not been looking for buyers.
Bids have arrived, but the current stance is that the American fund do not have the need to sell Milan also because they are aware that the project can still grow and guarantee a greater source of income in the future.