The Lazio Regional Administrative Court has accepted Blue Skye’s appeal and has given the FIGC 30 days to hand over the documents related to Milan’s sale to RedBird.
Corriere della Sera details how the finance company, led by Salvatore Cerchione and Gianluca D’Avanzo, filed to stop Elliot Management’s sale of the Rossoneri to Red Bird, claiming that their investor rights were violated due to the ‘behind closed doors’ nature of the talks.
Blue Skye requested documents related to Milan’s sale to RedBird but were rebuffed by the FIGC. Now, the Lazio Regional Administrative Court has told the FIGC to hand over these documents within 30 days.
The situation is extremely complicated now, as it includes a civil case in Milan, a few in Luxembourg, one in the United States and an investigation opened by the Milan Public Prosecutor’s Office, who are looking into possible embezzlement and obstruction of supervision.
Blue Skye was a minority shareholder (4.3%) of Project Redblack, the Elliott-dominated company that owned Milan. They claim that the sale of the club to RedBird “took place in such a way as to prejudice its credit rights”.