The legal dispute is dragging on between Elliott Management and Blue Skye, the companies that united to complete the takeover of Milan, with Paul Singer’s company claiming it was the victim of an extortion plot.
Blue Skye were minority shareholders in the club when the sale was completed to Gerry Cardinale’s RedBird in August 2022.
At the time, Blue Skye criticised the sale, sparking an investigation from the local authorities in Milan and complaining they had been damaged to the tune of €100m.
Elliott always rejected the accusations that the deal was in any way ‘opaque’ and the civil case brought by Blue Skye failed to gain any traction.
However, that is not enough for Elliott, who have now formally taken legal action against Blue Skye, asking for them to be charged with extortion, fraudulent statements and violation of the rules on money-laundering.
According to Elliott’s lawyers, the 2022 protest was in effect an attempt at extortion from Blue Skye and its administrators Salvatore Cerchione, Gianluca D’Avanzo and Giovanni Caslini.
They also maintain the evidence that Blue Skye collected was gathered illegally, which is why the money laundering rules are brought into play.