AC Milan logo is seen at the San Siro stadium during the match against Udinese in Milan, September 10, 2016. REUTERS/Stefano Rellandini
(Reuters) - U.S. hedge fund Elliott Management said on Tuesday it has assumed control of indebted Italian soccer club AC Milan and will inject 50 million euros (£44.2 million) to help stabilise the club's finances.
Reuters, citing a source, reported on Monday that Elliott had launched contractual proceedings which could see it become the majority owner of the storied club.
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