Milano Finanza via MilanLive.it are reporting the Elliott Management will increase their investment in AC Milan by 30 million euros from 650 million to 680 million. This is an small but significant increase in investment showing the faith of the American firm in the club and it’s future prospects. The report follows with up with the speculation that the son of Paul Singer, the head of Elliott Management, Gordon Singer is being tipped to join the board of Milan in the coming months. The report notes that the fund is considering Milan to be a long term investment and a quick turnaround sale seems to be off the table.
This follows the program of share rearrangement last month as reported by Calcio e Finanza which saw all Class C shares converted to Class A in Project RedBlack who own 99.93% of Milan. Elliot hold 95.73% of Project RedBlack through King George and Genius.