Pulse.com.gh logo
Go


Football AC Milan calls shareholder meeting to confirm American takeover

AC Milan on Thursday called a shareholders meeting for 21 July to rubber stamp the shift in ownership to U.S. hedge fund Elliott Management, Italian media reported.

  • Published:
AC Milan, headquartered in "Casa Milan", is to receive 50 million euros from the hedge fund Elliott play

AC Milan, headquartered in "Casa Milan", is to receive 50 million euros from the hedge fund Elliott

(AFP/File)

AC Milan on Thursday called a shareholders meeting for 21 July to rubber stamp the shift in ownership to U.S. hedge fund Elliott Management, Italian media reported.

Last April, after a long-winded process in which Chinese investors had problems using Chinese funds to buy the club from long-time owner Silvio Berlusconi, businessman Li Yonghong borrowed 300 million euros ($350 million) from Elliott to complete the 740 million-euro deal.

Italian media reported that Li agreed to pay as much as 11 percent interest on some tranches of the loan. After he failed to make a payment of 32 million euros due on July 6, Elliott moved to take control.

Elliott pledged to inject 50 million euros to bring financial stability to the seven-time European champions.

Founder and co-CEO Paul Singer said in a statement: "Financial support, stability, and proper oversight are necessary prerequisites for on-field success and a world-class fan experience."

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Number One Fan Meet Kylian Mbappe’s model girlfriend who was Miss France...bullet
2 World Cup 2018 All the award winners of the 2018 FIFA World Cupbullet
3 Video Shatta Wale displays great football skills that would delight youbullet
4 Reunion Zidane joins Juventus as Sporting Director following...bullet
5 Football Ronaldo sparks Champions League dreams ahead of...bullet
6 Revealed President Akufo-Addo establishes football academy-Ex...bullet
7 Football BBC denies collaborating with Anas for 'Number 12'...bullet
8 GFA Reforms ‘Honest’ Tony Baffoe backed to become new GFA bossbullet
9 Serie A Players of my age go to Qatar- Ronaldo throws shadebullet
10 World Cup 2018 Man loses GHc10K bet after Croatia’s...bullet

Top Videos

1 Anas Aremeyaw Anas finally takes off beads on TVbullet
2 Video Gyan rubbishes assertion that Ghana would have won Russia 2018bullet
3 Video Sulley Muntari cooks for wife Menayebullet
4 Video Shatta Wale displays great football skills that would...bullet
5 Video Watch the highlights of new Black Stars wonder kidbullet
6 Back to the Roots Memphis Depay dancing ‘adobe’ in Cape Coastbullet
7 Ghost Goal Italian referee shows remorse for disallowing...bullet
8 Video Watch highlights and goals of Black Stars new sensationbullet
9 Video Sannie Daara received GHC 4,000 bribe in Anas exposébullet
10 Watch how Ghanaian youngster tore Barca's unbeaten...bullet

Football