The stocks of Paolo Scaroni to become Milan president under the ownership of Elliott fund are increasing. The vice-president of investment bank Rothschild and current Milan board member is in pole position for the role [@CalcioFinanza]
Regarding the CEO role, the figure identified to take Marco Fassone’s place will be a manager of proven experience and international reputation. It is not excluded that he is an Italian one [Calcio e Finanza]
Massimiliano Mirabelli’s departure is not excluded either. There should not be however, a coaching change as mentioned in Elliott statement.
https://www.football-italia.net/124325/r...milan-debt
U.S hedge fund Elliott Management has reportedly written off Milan’s debts.
Avaiting for arrival of exorcist into our boardroom.
So will Elliot invest in the mercato?
No immediate revolution on corporate level for Milan. Fassone and Mirabelli will still take care of the mercato then here could be changes done on management level during the season. Milan must close the transfer market with a capital gain of €55M
[Sky]
I don't know where they got the 55m from, I saw it the other day, the same day Mirabelli stated it would have to be a zero balance mercato.
Marco Fassone was reassured during his meeting with Elliott. Next week the Milan CEO should meet the fund owner Paul Singer. Elliott denied to have contacted other managers but the situation at Milan is evolving and there could be changes [Corriere della Sera]
Elliott fund will own Milan for at least one year. They could allow the entrance of a minority shareholder like Riccardo Silva. Elliott executive Franck Tuil and Singer are likely to be present in front of TAS [CorSera]
UEFA's Adjudicatory Chamber claimed that Elliott could be in control for two years. As for Milan's defensive line in front of TAS the club will assert that the €120M debt is now belongs to its shareholder and not towards a third party
[CorSera]
not good time to be a milan fan nowadays. we're n chaotic state
I wouldn't expect much this mercato. Elliott is not the type of owner who is going in guns blazing and splashing their cash around. They are more interested in building a financially sound and stable company instead of fielding a team full of superstars.
The fact that Milan will continue with Fassone as CEO and Mirabelli as sporting director is completely normal. There are corporate activities & market negotiations initiated by the current management that must be carried out
Once the transfer market is over Elliott will be able to choose new directors.
