Milan CEO Giorgio Furlani reiterates that the club is ‘co-operating’ with the investigation into the Elliott Management sale, but the Serie A side is ‘owned by RedBird.’
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The last few days have been tense for the Rossoneri, as the Prosecutor in Milan raided the offices of the club and CEO Furlani as part of an investigation into the sale of AC Milan from Elliott Management to RedBird for 1.2 billion Euros in August 2022.
Former CEO Ivan Gazidis is also under investigation, but Milan, RedBird and Elliott Management all released statements insisting there was no truth in the allegations that Elliott ‘faked’ the sale.
“There is an investigation. The facts are simple, Milan are owned by RedBird. The authorities can investigate, we co-operated with them, handing over all the information they requested,” Furlani told Sky Sport Italia.
“We are focused on doing our work, which is ensuring Milan have success and that the fans are proud of their club.”
The investigation is based on the idea that Elliott Management still own Milan and only pretended to sell their shares to RedBird.
The response has been that using a vendor loan agreement as part of the sale is a common technique in any equity sale and should not warrant such alarm.