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AC Milan's Owners Elliot Management Release Statements Confirming Ownership Of The Club

The fund is in complete control contrary to the supposed expose from RAI.

Delivering Alpha - Season 2016 Photo by: Heidi Gutman/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images

RAI in Italy were supposed to air an expose on the ownership of AC Milan but put off the premiere for an undisclosed reason. In response, Milan's owners have spoken out to clarify their position.

Calcio e Finanza are reporting that an official statement has come from Elliot disclosing their ownership stake in the club. The statement read,

“Elliott Associates LP and Elliot International LP, jointly have complete control of the holding company to which AC Milan belongs. Elliott holds 96% of the Club, while the remainder belongs to our partners.”

A spokesperson for the fund commented via,

“Elliott has financed the relaunch of Milan in recent years, with over 600 million euros invested in the club,”

“Elliott has also committed to participate in a private investment of 1.2 billion euros for the construction of a new state-of-the-art stadium for the city of Milan and an innovative multifunctional district, which together will contribute to the continuous transformation of Milan, offering only an iconic reference point for the city but also a project of excellence for Italian football.”