RedBird Capital Partners have agreed a €1.2 billion deal to complete their takeover of Milan.
The American private investment firm on Wednesday confirmed a "definitive agreement" has been reached to acquire the Serie A champions from Elliott.
RedBird, who have a stake in Liverpool's owners Fenway Sports Group, are expected to officially take the Rossoneri over in September.
Elliott will retain a minority financial stake in the club and its own representatives on the board of directors,
A statement on Milan's website said RedBird's aim will be to get Milan back to the top of world football on the back of the club's first Scudetto in 11 years.
Gerry Cardinale, founder and managing partner of RedBird, said: "We are honoured to be part of the illustrious history of Milan and we are thrilled by the prospect of being able to write the next chapter of the club just as it has returned to occupy the deserved position at the top of the Italian championship with an eye to future goals in European and world level.
"I would like to thank Gordon Singer [managing partner of Elliott] and the entire Elliott team for the extraordinary work they have done in the last four years in bringing Milan back to the top of Serie A.
"RedBird's investment philosophy and the results achieved in the world of sport have demonstrated that football clubs can be successful on the pitch while maintaining a sustainable financial profile. We look forward to starting a long-term partnership with the club, his management and Milan fans from all over the world to continue to push Milan higher and higher in the years to come."
When the Champ19ns came to town #AlwaysWithYou #SempreMilan pic.twitter.com/hN6QEPpizu
— AC Milan (@acmilan) May 30, 2022
Singer stated: "When Elliott acquired Milan in 2018 we inherited a club with an extraordinary history, but with serious financial problems and disappointing sports performance.
"Our plan was simple: create financial stability and bring back Milan in their rightful place in European football. I think it can be said that we have achieved both goals.
"In this moment of transition towards the next chapter in the history of Milan, I want to express our deepest feeling of humility, pride and above all gratitude for the experiences we shared with every member of the Milan family: we could not have done any of this without you, the people of Milan."
Scaloni 'not here to criticise' Argentina after shock Paraguay defeat
Lionel Scaloni says he is "not here to criticise his players" after they suffered a shock 2-1 defeat to Paraguay in World Cup qualifying.
Lautaro Martinez had given Argentina the lead in the 11th minute – his powerful shot past Roberto Fernandez was initially ruled out for offside before a VAR review overturned it.
However, Paraguay were soon back on level terms. Gustavo Gomez rattled the crossbar with a diving header from a corner, but they regathered possession and pulled level with a sublime overhead kick from Antonio Sanabria 19 minutes in.
Two minutes into the second half, the hosts completed the turnaround through Omar Alderete, who met Diego Gomez's precise free-kick to nod in from close range.
Rodrigo De Paul arguably should have equalised for Argentina with just over 20 minutes to go, but under pressure, sliced over from close range, with the visitors unable to salvage a point.
It was a third defeat in World Cup qualifying for the Albiceleste, who remain top of the standings with 22 points, and Scaloni chose to focus on the positives.
"I'm not here to criticise my players; I'm here to support them," Scaloni said. "We knew it was going to be a tough match. We're here to move forward.
"In the first half, we played a good game, but the first action at the start of the second half made everything more difficult. We have to congratulate the opponent, who defended very well.
"I don't know if they found the antidote [to beating Argentina]. We're hoping to get back on the positive path.
"The team always tries and stands tall. That's what's important: never giving up on the game and always having the desire to compete."
Paraguay are sixth in the table, having extended their unbeaten run to six matches, which also includes a win over Brazil.
They had to dig deep, having only 23.2% possession throughout the game, though they had eight shots to Argentina's nine and scored with both of their efforts on target.
Head coach Gustavo Alfaro is yet to lose a game since taking over Paraguay after the Copa America, and he hailed his team's resilience.
"With the rebelliousness of these players in the face of adversity, I have no doubt that we will get there. When the predisposition is so great, time is secondary," he said.
"They were fantastic points, very difficult. It is difficult to take a point from Argentina."
St Kitts and Nevis, Belize secure first leg advantage in Nations League Play-In
Saint Kitts and Nevis and Belize place one foot in the Concacaf Gold Cup Prelims as both secured 2-1 wins over Cuba and French Guiana, respectively, in the opening leg of their Concacaf Nations League Play-In on Thursday.
Romaine Sawyers (8th) and Andre Burley (48th) were the scorers for Saint Kitts and Nevis, while Luis Paradela (40th) pulled one back for Cuba at the SKNFA Technical Center in Basseterre.
Meanwhile, at the FFB Stadium in Belmopan, Belize through goals from Carlos Bernardez (67th) and Eugene Martinez (75th) also secured an advantage heading into return leg action on Tuesday. Thomas Torvic (90+3) got French Guiana’s goal.
The winning teams on aggregate will advance to the 2025 Concacaf Gold Cup Prelims.
Saint Kitts and Nevis vs. Cuba
Sawyers opened the scoring for Saint Kitts and Nevis with a right-footed strike inside the penalty area after latching on to a final pass from Omari Sterling-James.
However, Paradela pulled Cuba level with a tidy finish from Orlando Calvo’s perfectly weighted ball into the area.
Cuba’s celebrations were short-lived as Burley restored the “Sugar Boyz” lead when he expertly headed home from Sterling-James’ weighted freekick.
Cuba will host Saint Kitts and Nevis in the second leg on Monday at Estadio Antonio Maceo in Santiago de Cuba.
Belize vs. French Guiana
After playing out a goalless first half, Bernardez broke the deadlock for Belize from a penalty spot much to the delight of home crowd.
Martinez extended the lead when he applied the finishing touch to Jordy Polanco’s decent corner kick.
Down but not out, Torvic ensured French Guiana remained in striking distance as he headed home from Thomas Vancaeyezeele’s assist.
French Guiana and Belize will meet for the second leg on Tuesday at Dr. Ir. Franklin Essed Stadion in Paramaribo, Suriname.
St Vincent and the Grenadines, El Salvador register wins in League B battle for promotion
Saint Vincent and the Grenadines kept hopes of a promotion in the Concacaf Nations League alive as they beat Monserrat 2-1, while El Salvador clipped Bonaire 1-0 in Group A of League B on Thursday.
Steven Pierre (42nd) fired home from a delightful Shakeem Adams pass before Cornelius Stewart (86th) converted from the penalty spot to seal a crucial win for Saint Vincent and the Grenadines.
Meanwhile, Donervorn Daniels (88th) scored Montserrat’s consolation in the curtain-raiser of the double-header at Estadio Cuscatlán in San Salvador.
In the feature contest, host and group leaders El Salvador also secured a crucial win courtesy of Styven Vasquez’s 83rd-minute strike, which came from a Santos Ortiz assist.
By virtue of the results, El Salvador remain atop the standings on 12 points, two points ahead of Saint Vincent and the Grenadines (10 points), while Bonaire (four points) and Montserrat (three points) are battling to avoid relegation.
As such, things will be interesting on Sunday’s final matchday as Saint Vincent and the Grenadines will face Bonaire in the first encounter before El Salvador cross swords with Montserrat in the feature at the same venue.
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