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[BREAKING] Unpaid debt: US hedge fund Elliott takes over AC Milan

US hedge fund Elliott announced Wednesday it had taken over Italian giants AC Milan after the club’s Chinese owners failed to repay debt.

Elliott Management pledged to inject 50 million euros to “stabilise the finances” of the seven-time European champions after Chinese owner Li Yonghong missed a Friday deadline to repay 32 million euros ($ 37.5 million).

Details later…

AFP

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