Elliott liked the consortium’s business plan for AC Milan, the source said, citing the intention to use the club’s brand to expand merchandising sales in China in the same way European heavyweights such as Manchester United (MANU.N) have done.
The U.S. fund has “some form of guarantee” over the financing, the source added without giving further details. A stock market listing is a possibility, but not in the short term, he said.
A statement released by the consortium on Saturday said that Luxembourg-based Rossoneri Sport Investment Lux would replace the original Chinese bid vehicle, Sino-Europe Sports Investment Management Changxing Co.