Elliott have stated that ‘there is a lot of hard work that we are ready to do’ in order to reconstruct Milan, after the CAS overturned UEFA’s ban today.
Milan will be playing in Europe next season and there is no doubt that the main contributor to CAS’ decision to overturn the ban of UEFA was the change in ownership as Yonghong Li is now gone, and Elliott Management are in control.
The American hedge fund sent representatives together with the Milan delegation to Lausanne, and tomorrow a shareholders meeting is scheduled, in which Elliott will put their men in the Board of Directors and perhaps also announce changes in the managerial structure of the club (Fassone and Mirabelli could leave / change roles).
After winning their first battle as the owners of Milan, a representative from Elliott, who are owned by Paul Singer (pictured), released this statement:
“Elliott is pleased to have been able to support Milan in front of the CAS and that our intervention has allowed the achievement of this positive result for the club. Playing in Europe is part of Milan’s heritage and being excluded from it would have been a real shame.
“We will now work hard to rebuild the club’s credibility with UEFA and to demonstrate that we can gain new successes on the field in full compliance with UEFA’s Financial Fair Play rules. Today’s legal victory is an important first step in the reconstruction of Milan: this reconstruction will not be a short-term project, and there is a lot of hard work that Elliott is ready to do.”
A new era begins for Milan, one without unknown owners. Elliott will do their best in order to bring the Rossoneri back to being a stable club, and they confirm again that they won’t be gone soon.