A US judge has given Milan minority shareholder Blue Skye the green light to obtain documents from Elliott Management in a possible attempt to block the €1.2 billion sale to RedBird.
Calciomercato.com highlights how Blue Skye own 4.27% of Project Redblack, the holding company that controls 100% of Rossoneri Sport Investment, which in turn controls 99.93% of Milan. They’ve accused Elliott of violating their investor rights by engaging in months of ‘behind closed doors’ talks with RedBird regarding a takeover.
On July 5, US District Judge Katherine Polk Failla in Manhattan indicated that Blue Skye had met the legal standard to obtain a limited number of required documents that could be used in possible court actions in Luxembourg, where the minority shareholders could look to block the sale or obtain some form of compensation.
The situation is a much-unwanted distraction in the Lombardy capital and it could possibly threaten Milan’s transfer market plans at a crucial time.
Real Gibson’s choice
Shady American s or dodgy Arabs.