The sale would represent the latest high profile acquisition by chinese investors seeking to make waves in the so called beautiful game. In summary blue skye have a long standing and close working relationship with elliott and played a major role in the acquisition of ac milan.
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Fund will provide 180 million euros to complete the acquisition and another 73 million euros to help the club to cover short term payments said a lawyer working for ac milan and yonghong.
Ac milan acquisition. Hedge fund elliott management said on tuesday it has assumed control of indebted italian soccer club ac milan and will inject 50 million euros 44 2 million to help stabilise the club s. Ac milan a historically significant soccer football team in italy has been reportedly negotiating with and may soon be owned by the most significant luxury conglomerate in the world lvmh. Ac milan s city rival internazionale was sold to.
That allowed them to not only become an integral part. Ac milan and li have a total accumulated debt of 308 million euros towards elliott which lent 180 million euros to li and 128 million euros to ac milan to fund the acquisition of players and. Milan was founded as milan foot ball and cricket club in 1899 by english expatriates alfred edwards and herbert kilpin.
The club claims 16 december of that year as their foundation date but historical evidence seems to suggest that the club was actually founded a few days earlier most likely on 13 december. A lot of ac milan fans may be unfamiliar with blue skye a company who played a big part in elliott management s acquisition of the club. But if the problems financing the ac milan acquisition were clear to those involved in the transaction a long time before uefa was forced to intervene many are still puzzled about how the chinese.
Alas chloe beresford and lawyer felice raimondo have combined to produce a fantastic article for forbes which discusses the entire situation at length including background on blue skye. In order to compete with the other top football squads in europe ac milan needs substantial investments in particular with regard to the acquisition of new players. Li might return the club to its former success and improve the financial performance of the club.
Therefore the capital injections announced by the mr. However with the club s charter being lost the exact date remains open to debate.
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