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AC Milan

Tuttosport: Elliott want Milan to be self-sufficient after €705m investment

Elliott Management have invested a hefty amount into AC Milan to improve the financial health of the club, and they have a plan for how to further help that.

The American hedge fund acquired the club in a dire economic state after the reckless ownership of Yonghong Li, and they set about improving the club’s accounts by cutting costs and increasing revenues, although the effects of Covid have not helped their mission.

Accoding to Tuttosport (via MilanNews), Elliott Management – through the holding company Project Redblack – have invested something like €705.65m into the club. In doing so, they have embarked on a path of financial restructuring that will have to lead it to be self-sufficient in the end.

They have two further missions in mind to help Milan become financially virtuous: participating consistently in the Champions League to build revenues, and building their own stadium to increase the money coming in from matchdays.

READ MORE: Milan very interested in Chelsea forward but international commitments are an obstacle

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