There are also doubts about the sale price of Milan in the investigation by the Milan Prosecutor's Office which focuses on the purchase and sale of the company which, it is assumed, did not actually take place.
For this reason, the club's CEO Giorgio Furlani, his predecessor Ivan Gazidis and two other people are responsible for obstructing the supervisory activity of the FIGC, to which incorrect information on the real ownership was allegedly transmitted.
In the aftermath of the searches and seizures of IT and telephone equipment, on which to trace - using around forty keywords - emails, chats and documents to confirm the suspicion that "the ownership of the shares" is still in Elliott's hands, other topics of investigation.
First of all, we intend to dig into, in addition to the hypothesis that emerged from the papers collected in recent months by prosecutors Giovanna Cavalleri and Giovanni Polizzi relating to the actual ownership, what the real reasons for the operation are, i.e. whether there is something else behind it
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And also whether the official purchase figure was adequate: one billion and 200 million euros, an amount that has long been considered too high in football circles.
The reconstruction of the Milanese investigators, after Elliott and the Rossoneri club (unrelated to the disputed facts), is also denied by RedBird which with its subscribers owns "99.93% of AC Milan - says a spokesperson - the remaining 0.07 is in the hands of individual Italian shareholders who are long-time fans of the Club."
Furthermore, "the idea that" the fund led by Paul Singer "does not own and control" the company "is absolutely false and is contradicted by all evidence and facts, including those that allegedly underlie the investigation"
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An investigation that will now continue with the forensic copy of the contents of the computer and telephone media and with the analysis of the amount of documentation that is presumed to be extrapolated, while some documents, in compliance with investigative secrecy, will be sent to the Football Federation for its determinations on the front of sports justice
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According to the judiciary, the FIGC would not have received an "exhaustive and transparent communication" or would have received one with the "omission of relevant circumstances regarding the effective ownership" of Milan.
This thesis is based on a series of alleged "anomalies" that have come to light in recent months and which were listed by the soldiers of the Special Currency Police Unit of the Guardia di Finanza in a report dated February 1st.
For further information, ANSA Investigating Agency on the sale of Milan, 'Elliott controls it' - News - Ansa.it Furlani and Gazidis under investigation.
Searches at the premises.
Pm: "Real property is not RedBird."
The fund still has control of the company and the FIGC is in the dark.'
The reply: ''False accusation.
No participation or control of the club' (ANSA)
Among these are the "significant discrepancies" between what was communicated by Gerry Cardinale's fund to the SEC, the US market supervisory commission, and what was reported instead "to the club's board of directors" regarding the origin of the funds used to finalize the purchase".
In particular, according to the investigative documents, the AC Milan board of directors was informed on 11 June 2022, i.e. before the closing, that the fund would pay 400 million euros, or part of the 1.2 billion euros. Rb Fund Iv Fc Aiv Cv" which does not appear, however, in the documents sent by RedBird to the Sec.
From the "adv form" updated to 31 March 2023 filed with the Sec, in fact, we read in the search decree, it appears that that fund indicated for the purchase is not "managed by RedBird".
An element which, together with others, has led to the suspicion that "most of the capital used for the sale" is "coming from a corporate vehicle not referable" to Cardinale's company.
According to prosecutors, Elliott still controls Milan also thanks to that "seller's loan" granted to RedBird for 560 million euros, part of the 1.2 billion purchase price.
Financing which would have an impact, with an active role for Elliott, according to the documents, also on a "proposed imminent sale of part of the shares" of the club to Arab investors and which Cardinale's fund denies.
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