Elliott Management won their case against Blue Skye in a Luxembourg court, and the matter was resolved.
Skye Blue’s legal case against former AC Milan owner Elliott Management has been thrown out of court in Luxembourg, and the proceedings have finished.
As reported by Calcio e Finanza, on February 28, 2024, the Chambre du Conseil of the Court of Luxembourg issued a no-proceeding order, dismissing all criminal investigations against Rossoneri Sport Investment (i.e. Elliott) and its respective executives, including Elliott employee Jean-Marc McLean. Blue Skye is a corporation owned by Gianluca D’Avanzo and Salvatore Cerchione, and they have sued Elliott three times. All three have failed, and it is thought that they will be required to pay legal fees.
Blue Skye was Eliiott’s partner, owning 4.72% of Project Red Black. That was the business that had complete control of Rossoneri Sports Management and essentially owned AC Milan.
Blue Skye and its partners have filed 11 legal lawsuits in three different countries (Luxembourg, Italy, and New York). The revelation gives RedBird Capital Group, Milan’s owners, further peace of mind about their position. Legal actions threaten impeding their intentions to relocate Milan to a new stadium away from San Siro and return the team to the top of the Serie A standings.