Elliott takes over AC Milan
Update: 2018-07-12 05:30 IST
Milan: US hedge fund Elliott has announced that it has taken over Italian giants AC Milan after the club's Chinese owners failed to repay debt, saying the deal opened "a new chapter" for the football institution.
Elliott Management pledged to inject $59 million to bring financial stability to the seven-time European champions after Li Yonghong missed a Friday deadline to repay 32 million euros.