A report from Bloomberg today detailed how minority investor Blue Skye Financial Partners are looking to block the sale of Milan to RedBird.
The minority investor alleges that owners Elliott Management engaged in talks “behind closed doors” to sell the club, in breach of minority rights. Blue Skye are now looking for documents from a court in the US ahead of legal action in Luxembourg, which they hope will annul the sale to RedBird or allow them to obtain damages.
The filing from the minority investor underlined their intention to show how Elliott “operated with malice or deceit” after they released confidential information without seeking prior approval, as well as their failure to hold a proper bidding process.
Blue Skye own around 4.3% of the holding company that owns Milan and they claimed that they were informed by Gordon Singer that the hedge fund was “focused on maximizing value for Milan and it would be privy to any sale,” and instead they suggest that they were left entirely sidelined.
vioeimnuy
0
You're absolutely right brethren, first of all i will put a blame on Elliot investment by selling the club to Redbird. they don't want to spend a dime to bring back a smile to the faces of Milan supporters around the globe. I'm highly disappointed in Elliot.
lawabemnpu
1
this redbird don't deserve Milan at all their are not ready to spend money on quality players at all so as' a milan fan we need somebody who can bring milan back to where milan belong not redbird they're too stinging.
hutacklmsz
4
yes let them to sue the court in order to annulment the deal with want some body that will boost our not them we financial body that will bring more quality to more money to the team to take us to our level