Italian Financial Police raid Milan HQ for American owners sale

March 13, 2024 Trending News

Italian prosecutors are investigating the sale of Serie A heavyweight AC Milan. On Tuesday, police investigated the club’s headquarters as part of their inquiry. RedBird Capital Partners bought the Rossoneri out from Elliott Management in August 2022.

However, Elliott allegedly still owns and controls the Italian giants, according to Milan prosecutors. Italian banking authorities raided the AC Milan offices on Tuesday. They also checked the residences of both the present CEO, Giorgio Furlani, and the previous CEO, Ivan Gazidis as well.

The Italian FA has accused the two of concealing facts about the deal that is now under investigation. Regarding the club’s ownership structure, they need to have informed the Italian Football Federation (FIGC) of this.

Club says it is cooperating with authorities

“It seems that the majority of the funds used to buy the club originate from an investment vehicle that does not belong to RedBird. The suspicion is that Elliott currently maintains effective control of the company,” as stated in the warrant for search, via the Financial Times.

Prosecutors also claimed in the warrant that Elliott indirectly controls the French side Lille. They say is breaking regulations imposed by UEFA, the regulatory body of European sport. Amid these accusations, the Serie A greats issued a statement to the press denying any direct involvement in the probe.

“In regards to the search carried out today in its headquarters, AC Milan is a third party and extraneous to the ongoing legal action concerning the purchase of the club.”

“The investigation, which also involves the legal representatives with authority to sign, Giorgio Furlani and Ivan Gazidis, hypothesizes incorrect communications to the competent vigilance authority. The club is giving its full cooperation to the investigating authority.”

What did Elliott and RedBird say about AC Milan sale?

Elliott denied the claims that they had any involvement…


Source link : https://worldsoccertalk.com/news/italian-financial-police-raid-milan-hq-for-american-owners-sale

Author : Martina Alcheva

Publish date : 2024-03-13 21:17:41

Copyright for syndicated content belongs to the linked Source.

SoccerNews.info is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to SoccerNews.info (amazon.com, or endless.com, MYHABIT.com, SmallParts.com, or AmazonWireless.com) The brand, logo and product names are trademarks of their respective companies. If we create a link to a product in a review, sometimes we may get paid a commission if a visitor to our site purchases the product. For more details, please see our Disclosure Policy
© 2022 SoccerNews.info - Copyright for syndicated content belongs to the linked Source. nba-news.net, nfl-news.org, soccernews.info

1 2 3 4 5 6 7 8 .. . . . . . . . . . . . . . . . . . . . . . . . . .... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .