Gordon Singer reflects on Elliott’s ownership of AC Milan: “We are proud”

Gordon Singer commented on Elliott Management’s official exit from AC Milan yesterday, stating that they are ‘proud’ of what they have achieved. 

It was back in the summer of 2018 that Elliott took control of the club, as the Chinese owner Yongong Li defaulted on his loan. Immediately, the American hedge fund began work on balancing the books, taking the club from a dire financial situation to a very solid one.

Elliott’s ownership concluded with the Scudetto in the 2021-22 season, after which the club exchanged hands to RedBird Capital. However, since a vendor loan was involved in the deal, Gordon Singer and Dominic Mitchell (of Elliott) remained on the board of directors.

Elliott’s comment on Milan tenure

Yesterday, RedBird confirmed that the vendor loan had been paid back in full after securing financing from Comvest. As a result, Singer and Mitchell officially left the board of directors, with the former giving a comment in the official statement.

“We are proud of what AC Milan has accomplished since Elliott acquired the club in 2018. Under Elliott’s ownership and subsequently RedBird’s, the club’s financial and sporting performance have improved significantly and the team has won two major trophies, including the 2021/22 Scudetto.

“The stewardship of a historic institution like AC Milan is an important responsibility, and we wish RedBird continued success in the future,” he stated.