With Paul Singer’s Elliott hedge fund having taken control at AC Milan, the group are putting plans in place to improve the club’s current predicament.
Former owner Li Yonghong lost control of the Diavolo to the American hedge fund after repeatedly missing payment deadlines, allowing the group to swoop and promise to put the club ‘back where is belongs’.
According to La Gazzetta dello Sport, one of the initial priorities, given the urgency of the situation, is for the new ownership to ensure that the Rossoneri’s appeal to the Court of Arbitration for Sport against their European exclusion is successful.
Last month, UEFA announced that Milan would not be permitted access to the 2018/19 edition of the Europa League as a result of their failure to comply with Financial Fair Play regulations.
At present, it is estimated that the club have a worth of €550 million and one of the objectives of Singer’s group is to relaunch the brand on a global scale and increase revenue.
That last point is vital for Elliott as lowering costs is also required in order to ensure that the Rossoneri can fall within UEFA’s parameters and avoid any similar future punishments.
It is reported that Elliott are also very keen on making a major push on the marketing and publicity side of things in order to revive a brand which has been damaged somewhat by last mont’s humiliating Europa League exclusion.
Although it is also claimed that they would also like to build a new stadium for the club, given several bureaucratic, political and economic factors, it is unlikely that such a process will be in the offing in the near future.
Source: forzaitalianfootball.com