Thomas S. Ricketts, born in 1966, leads the MLB team he bought for 875M USD in 2009. The Ricketts family is headed by Joseph, the founder of online brokerage firm Td Ameritrade (of which he still holds 6.37%).
He closed the financial year 2017 with a turnover of 3.7 billion USD and a pre-tax profit of 1.4 billion, is credited by Forbes with a capital of 2.4 billion USD. Joe Ricketts is one of the billionaires who supported Donald Trump in the USA elections.
According to Il Sole 24 Ore, Elliott Management have begun their takeover of Milan by paying the €32m capital increase rather than Yonghong Li.
The Chinese patron was to meet another deadline imminently, but the €32m have been sent by US hedge fund Elliott and will be in the club’s bank account tomorrow.
Yonghong Li only managed to buy the club in April 2017 thanks to a massive loan from Elliott Management and that is due to be repaid in full in October.
It has been increasingly likely he won’t make that repayment and Elliott are already setting the wheels in motion to take over AC Milan.
This is the first step, paying the much-needed €32m to increase the capital and Yonghong Li has 10 days to reimburse them, otherwise the hedge fund will begin taking his assets.
The only alternative open to Yonghong Li now is to find investors quickly
Why would we want that Ricketts family as owners if they only have about 2.4 billion dollars that's not even nearly enough to run this club considering they won't want to put all of their money in the club.
(06-21-2018, 06:48 PM)Joël Wrote: [ -> ]Why would we want that Ricketts family as owners if they only have about 2.4 billion dollars that's not even nearly enough to run this club considering they won't want to put all of their money in the club.
They have players on $300m contracts back home.
Saw this elsewhere
Accoring to Forbes, the Ricketts family have assets that are worth $2,4 billion dollars.
He closed the financial year 2017 with a turnover of 3.7 billion USD and a pre-tax profit of 1.4 billion, is credited by Forbes with a capital of 2.4 billion USD. Joe Ricketts is one of the billionaires who supported Donald Trump in the USA elections.
At lesst have money and the ability to pay big for personal.I m not versed in American sports so maybe someone who is can shed light on them
2.4 billion is not enough? Berlu personally - his own wealth not Fininvest - was worth 3 times that and he didn't do anything, it depends on the person not the exact number.
American sports can't really be compared, in baseball you have teams who give 100 million to one player (for 4 seasons) then 2 years later trade everyone and rebuild on cheap. Milan is going to be a money loser for the near or mid future, anybody "serious" who takes over will know that and will probably look to minimize losses by getting CL money.
David Han Li is in New York to formulate the remaining details with the new Milan member who should become a majority shareholder right away [Mediaset]
(06-21-2018, 07:53 PM)reza Wrote: [ -> ]2.4 billion is not enough? Berlu personally - his own wealth not Fininvest - was worth 3 times that and he didn't do anything, it depends on the person not the exact number.
That's exactly why I think he doens't have enough money. To keep this club running the next few years you need about 1 billion or 1.5 if you add the purchase of the club. Why would someone spend half of his own money for something like a football club.
Ricketts is legit
also, Cubs won World Series two years ago
(06-21-2018, 08:54 PM)AC_Troy Wrote: [ -> ]Ricketts is legit
also, Cubs won World Series two years ago
World Series my ass.. the only people who participate are the Americans among themselves.. any and all of their sports franchise is a joke to anyone outside of America with all their fancy titles.. world series this.. world champion that.. as of the world revolves around them.. clowns