RedBird removes doubts about the real ownership of Milan and also indirectly responds to the Milan public prosecutor's office which wants to see clearly on the transfer of ownership in 2022 with the Elliott fund. “RedBird Fund IV and its subscribers own 99.93% of AC Milan; the remaining 0.07 are in the hands of individual Italian shareholders who have long supported the Club,” a spokesperson said, as reported by Ansa, “the idea that RedBird does not own or control the 'AC Milan is absolutely false and is contradicted by all the evidence and facts, including those which would form the basis of the investigation. Currently, the CEO of Milan since 2022, Giorgio Furlani, and his predecessor between 2018 and 2022 Ivan Gazidis, are the subject of an investigation by the Milan public prosecutor's office for the hypothesis of the crime of obstructing the activity of the Federation Italian games of chance and football. legal requirements of clubs owning football teams. The Rossoneri club is not involved in the investigation, while the prosecutor's hypothesis is that “the Elliot Fund currently maintains substantial control of the Ac Milan company”, since from the analysis of the documents “it seems to emerge that the majority of the capital used for the sale came from a corporate vehicle not attached to RedBird itself. At the time of the purchase, Gerry Cardinale would have paid 600 million, and a similar sum would instead have been issued with seller loan contract. In practice, Elliott loaned RedBird part of the money from the sale. “When we took control of the Club after closing“, assures the RedBird spokesperson, “Elliott granted RedBird a loan for a period of three years and without voting rights. Our goal is to bring Milan back to the top of Serie A and European football, everything else takes time to achieve that goal. There are no ongoing discussions with an investor likely to exercise control over the Club. RedBird is the majority owner of AC Milan and will remain so.
Read also:
