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Serie A news: Elliott Management takes control of AC Milan | Goal.com
Elliott Management has taken over control of AC Milan after former owner Li Yonghong failed to repay a €32 million (£28m/$38m) debt. The sum, which was borrowed from the hedge-fund of company founder and owner Paul Singer, was required to increase capital last month, and legal action has since been taken to repossesses the arrears. Elliott Management Corporation is a company that specialises in distressed debt acquisitions and has pledged to inject €50m as Milan go through the off-field changes….
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