So, there’s still dysfunction at AC Milan, even after Elliott Management has taken over the ownership of the club.
The board was set to appoint a new president today, after ownership of the club was transferred away from Yonghong Li to Elliott Management, but that will have to wait until a shareholder’s meeting that will be held on July 21st.
Lawyer Roberto Cappelli said the following to reporters who came to the meeting at Casa Milan:
We had a meeting, but in the absence of the Chinese counsellors, we did not have the necessary quorum to pass any votes.
At that point, a Shareholders’ meeting was called for July 21. That assembly will aim to renew the Board of Directors and revoke some counsellors.
There were only Italian counsellors, so no members of the new patrons either. We have no indications at the moment and will see at the next meeting.
It would be opportune to have another Board meeting straight after the Shareholders’ meeting, to give back full power and everything necessary to those in charge.
We don’t know who will be the President. We don’t know anything
So while the ownership of the club may have switched hands, the person ultimately in charge of the club, who was Yonghong Li, is unknown at this point. CEO Marco Fassone is still running the day-to-day operations of the club, along with Sporting Director Massimiliano Mirabelli, but they have to be wondering if they will stay employed after the shareholder’s meeting.
Of course, the issue of who will represent the club at the Court of Arbitration for Sport hearing is still up in the air, with Elliott Management most likely sending representatives to plead their case to the Court. With UEFA taking issue with the previous ownership’s incompetence, Milan might make out okay.