MILAN. Gerry Cardinale is also expected to join the AC Milan board, which will be elected tomorrow by the shareholders’ meeting of the Rossoneri club, called to update the organization chart after the formalization of the management change from the Elliott Fund to RedBird Capital. The founder of RedBird is among the new entrants. At the share of RedBird there will also be his close collaborator Alec Scheiner, already present in the board of directors of Toulouse (another team owned by RedBird) as well as two other US managers.
Milan, minority shareholder Blue Skye brings Elliot fund to court in Milan: “Operation sale to RedBird opaque, suspend the transfer of shares”
ANDREA SIRAVO
Confirmed in the Board of Directors Paolo Scaroni, who will remain president, and Ivan Gazidis certainly CEO until November when his mandate expires. Gordon Singer, Giorgio Furlani and Stefano Cocirio, respectively managing partner, portfolio manager and financial analyst of the American hedge fund, will also remain on the Board, with Elliott share.
Meanwhile, in the early afternoon, Blue Skye, Elliott’s partner until the last transfer of ownership of AC Milan, withdrew the precautionary procedure before the Milan Court to block the sale of the Rossoneri club. Having acknowledged that the transfer of shares has already taken place, there were no longer any prerequisites for an urgent intervention by the judge. The lawsuit will now continue on the merits limited to one aspect of the affair, relating to a pledge.