Did Lille’s President Hint At Elliott Investment Fund Selling AC Milan?

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AC Milan pose for a team photo before the serie A match between AC Milan and SSC Napoli at Stadio … [+] Giuseppe Meazza on January 26, 2018 in Milan, Italy. (Photo by Giuseppe Cottini/NurPhoto via Getty Images)NurPhoto via Getty ImagesThe hearths of thousands AC Milan’s fans probably missed a beat last Friday when the president of French soccer team Lille Gerard Lopez claimed that Elliott Management fund – AC Milan owner – “funded Milan to be bought” by another party for a profit.“They didn’t fund this club to be bought” stated Lopez referring to Lille in an interview with The Financial Times.“They funded this club to start a process of investing in players, creating value, selling some of the players, keeping others to grow the club”.
In 2018, Elliott expanded its football investments with a loan worth $155 million to fund French soccer league side Lille.Around the same time, the fund became the owner of the Rossoneri after former Chinese owner Yonghong Li defaulted on a loan provided by the hedge fund to acquire the club.PARIS, FRANCE – NOVEMBER 22: Former French President Nicolas Sarkozy salutes President of Lille … [+] Ge

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