Italian financial police search Milan headquarters for transfer of ownership to RedBird

The Italian Finance Guard searched the headquarters of AC Milan this Tuesday, looking for documents that corroborate the transfer of the team, now in doubt, from the American investment fund Elliot to the also American RedBird Capital, the supposedly current owner of the club.

The Milan Prosecutor's Office is investigating the Italians Ivan Gazidis and Giorgio Furlani, former and current executive director of the Italian team, on suspicion of a crime of obstruction of the supervision activity of the Italian Football Federation over the legal requirements of the owning companies. of clubs, since the team had not communicated its change of ownership.

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This means that Milan could still belong to the Elliot fund and the American Paul Singer, despite the fact that it is Gerry Cardinale, of RedBird Capital, who appears as the owner of the team from August 2022. If it is confirmed that the team remains owned by Elliot, the club would have committed a UEFA crime, because as it also owns Lille, it cannot be in charge of another institution.

Milan has already acknowledged the search and investigation related to possible irregularities in the transfer and ownership, but denied any wrongdoing.

“Milan positions itself as alien and foreign to the procedures in courses related to its acquisition, completed in August 2022. The investigation in which Giorgio Furlani and Ivan Gazidis are involved presupposes incorrect communications to the competent control authority,” it states. read in the statement.

However, the club claims to be “providing its full cooperation” to the corresponding authority.

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