The Elliott Fund breaks its silence after what is coming to light about the alleged relationship between the American fund, Milan and Lille between 2020 and 2022. But let's take them one by one. The former owners of the red and black club have reacted strongly with a statement to deny what has been published by the French newspaper "L'Equipe", which is conducting an investigation into possible conflicts of interest and UEFA's rules on co-ownership in football clubs, which prohibit a single entity from exercising control or decisive influence over several companies participating in the same European competitions (as happened between Milan and Lille in the Europa League and Champions League in the years in question).
“L'Equipe” actually wanted to reopen the debate on the historical links between the two companies, suggesting that Elliott managed a “de facto joint ownership”. And so the American fund went public with an official statement: “The Italian magistrates have examined and assessed all these materials, in their proper context, and have recommended the filing of the proceedings without any charges. We are disappointed, but not surprised, to note that, shortly before this recommendation was examined by an Italian court, some selected materials were made public, most likely by another frustrated party inclined towards unfounded legal initiatives, which has not been successful in any of the numerous legal actions taken. UEFA has already examined the matter and has determined that Elliott does not exercise any control or decisive influence over Lille. Elliott’s only relationship with Lille has always been that of a financier. In short, none of these allegations are founded”.
It all started in 2020, when Lille passed from the administration of Gerard Lopez to the Merlyn Advisors fund (run by Alessandro Barnaba and Maarten Petermann). Elliott, who was already a creditor of Lille, financed the operation to restructure the club's debt. "L'Equipe", over time, has cited and highlighted email exchanges, internal messages and financial documentation. Among them is a conversation in June 2022 between Maarten Petermann (Merlyn), Giorgio Furlani (then Elliott's manager and Milan director) and Gordon Singer (son of Elliott founder Paul Singer).
According to the French newspaper, these financial structures and personal connections would have guaranteed Elliott a direct or indirect influence over the management of Lille, much greater than that of a simple external creditor, leading the newspaper to raise doubts about compliance with UEFA regulations. An issue that had also arisen in previous years. For this reason, Elliott has found himself once again denying the allegations, emphasizing that the debt structures, contracts and organizational charts of the two clubs have already been scrutinized by UEFA inspection bodies and the Italian authorities, without ever finding any violation of the rules on co-ownership or influence over management.
