Know your owner: Elliott Management

Discussion in 'AC Milan' started by stphnsn, Oct 18, 2019.

  1. stphnsn

    stphnsn Member+

    Jan 30, 2009
    Since Elliott took over from Yonghong Li, their name has been on my radar, and I've been amazed at how many difference places I've seen them mentioned as big stakeholders or influencers. I thought this would be a good place to track news about the firm.

    Here's an article from today's WSJ morning email about Elliott pushing around AT&T. These guys have some serious clout.

    https://www.wsj.com/articles/at-t-i...activist-campaign-11571347183?mod=djem10point
     
  2. stphnsn

    stphnsn Member+

    Jan 30, 2009
  3. turntheohthree

    turntheohthree New Member

    AC Milan
    United States
    Nov 14, 2019
  4. stphnsn

    stphnsn Member+

    Jan 30, 2009
    I don't think the author has the whole picture.

    Li paid 700M Euro when he bought the club from Berlusconi, and he financed the purchase with a 300M loan from Elliott, which he then defaulted on. Elliott basically got the club for that 300M. If they'd wanted a quick profit, they could have (probably) turned around and sold for 500M to some oligarch or something and pocketed the 200M. Instead, they've swallowed a ton of debt, and put a lot of money into the club and they're talking about long-term projects like a stadium. They also hired Gazidis, Maldini, and Boban, 3 guys who you wouldn't have gotten to take the jobs if you didn't have a sound plan. Maldini was out of Milan for almost a decade before coming back with these guys. They had to have convinced him they were going to do it the right way.

    I think they're probably looking at this as a more long-term project with a bigger upside if they can turn around the on-field product and increase the commercial revenue, hence the Gazidis hire. Look what he did at Arsenal: built a world class stadium AND kept the team competitive. I think the plan is to spend a little time and money on the project and sell for 2 billion euro in 10 years instead of 500M immediately. I'm sure they'd sell now if someone (LVMH?) made a crazy offer, but otherwise, they're going to follow the plan in hopes of a bigger pay off later.

    I suspect they underestimated just how difficult the business of soccer actually is. It's not usually a "just write checks" solution.
     
  5. stphnsn

    stphnsn Member+

    Jan 30, 2009
    Don't hold your breath.
     
  6. Tmina89

    Tmina89 New Member

    AC Milan
    Morocco
    Nov 20, 2019
    Really interesting feed. If you want to hear more from Mr. Li I think he's just joined Twitter:
    .
     
  7. turntheohthree

    turntheohthree New Member

    AC Milan
    United States
    Nov 14, 2019
    stoppppp. we think it's the real him?!
     
  8. turntheohthree

    turntheohthree New Member

    AC Milan
    United States
    Nov 14, 2019
  9. stphnsn

    stphnsn Member+

    Jan 30, 2009
    F-I have a few actual journalists on their staff so I don't think they'd run this without being relatively certain it's actually him. That being said, I don't think he's going to have anything new to say with respect to the club's current affairs. If he had grounds to keep control, he would have exercised them long ago. It would be interesting to hear how or why he let 400M euro of investment just vanish like he did. There are a lot of questions about where he got that part of the money he used to purchase the club.
     
  10. turntheohthree

    turntheohthree New Member

    AC Milan
    United States
    Nov 14, 2019
    Completely agree – they have some decent journalists on their staff. If I remember correctly, he never really spoke to the press except for that time that he released a recorded statement. Since he didn’t address his financial situation, reporters, fans etc were never really able to get the full story. But also- if there were questions of his financial capability, why did Berlusconi and Co agree to sell to him in the first place?! Surely that deserves more attention? Really looking forward to finding out more - even if it isn't real, it's just an extra chapter in this whole mad AC Milan story of the last few years!
     
    Tmina89 repped this.
  11. stphnsn

    stphnsn Member+

    Jan 30, 2009
    turntheohthree repped this.
  12. turntheohthree

    turntheohthree New Member

    AC Milan
    United States
    Nov 14, 2019
    good that they're starting to tell their side of the story though, we all deserve to know. i'm still thinking there was some foul play involved cos the whole thing happened so shadily from what David Han Li is saying. don't trust Elliott as far as I can throw them to be honest with you and i don't like what they're doing to the club, where's all the team spirit gone. not even Zlatan's proving our saviour
     
  13. stphnsn

    stphnsn Member+

    Jan 30, 2009
  14. stphnsn

    stphnsn Member+

    Jan 30, 2009

Share This Page