A new phase of financial stability is set to go underway at Milan after ownership and control of the holding company that owns the club was transferred to Elliott Advisors Limited.
According to Business Wire, the deal to take over the club took place after the previous owner of Milan defaulted on their debt obligations to Elliott, leaving the company with a need to enforce its security interests.
The aims for Milan under Elliott are to create strong management and financial security in order to provide a platform for greater long-term success at the club while complying with UEFA Financial Fair Play regulations.
A statement was made by
Milan were recently banned from taking part in European competitions for the next two seasons after failing to break even with their spending, just weeks after finishing sixth in Serie A to qualify for the Europa League.
Elliott plans to inject