Prominent lawyer Pierluigi Matera has warned officials that Milan’s former and current owners Elliott Management and RedBird Capital Partners are ‘global giants’, who often carry out aggressive strategies, and when they are sued, they ‘practically always win’.
The Milan offices were raided by the Italian financial police earlier this week as part of an ongoing investigation. Computers and other devices were seized from the club’s headquarters.
The prosecution claims that former owners Elliott Management still control and own AC Milan, which would mean that the sale in the summer of 2022 to Gerry Cardinale’s RedBird was not entirely on the level.
RedBird have since released a statement, assuring supporters that they are aware and co-operating with the ongoing investigations. They also insisted that they are the lawful and rightful owners of Milan.
Matera, a professor of law and former deputy attorney general of CONI, gave an interview on the topic of Milan and its owners in Thursday’s print edition of Tuttosport.
“It’s a complex accusation which is accompanied by the thesis that Elliott acted as an owner rather than as a creditor in the negotiation with the Saudi Public Investment Fund (PIF) for a potential sale.
“For the prosecutor’s office, that could have been seen as confessional conduct, but it’s okay. Elliott and RedBird are not small funds, rather global giants that regularly carry out aggressive strategies and when sued, they practically always win.”
L'avv. Matera sicuro: "Elliott e RedBird sono giganti globali: se "citati" in giudizio vincono praticamente sempre"https://t.co/8TFXVVogSk
— MilanNews.it (@MilanNewsit) March 14, 2024