Investigation into Milan doubts RedBird’s ownership

Serie A giants Milan are being investigated by the Guardia di Finanza and there is a perception that the club is still owned by the Elliot Fund.

Corriere della Sera (via TMW) have provided further information about the GdF’s investigation into the club’s coffers at Casa Milan today. Current club CEO Giorgio Furlani and former CEO Ivan Gazidis are being investigated for the alleged crime of obstructing the activity of the supervisory Italian Football Federation on the legal requirements of the companies that own football teams.

The hypothesis is that Milan don’t really belong to anyone right now, even though Gerry Cardinale did gain control from the summer of 2022 onwards. Three documents found by the GdF tell them of this and they have been acquired confidentially.

Some information obtained from documents filed with the SEC in the United States, others from documents found in Luxembourg in the accounts of the already investigated directors Jean Marc McClean and Daniela Italia a year ago. Another document is a very recent internal document at Milan which was drawn up to present the club on the winter tour of the management with ahead of a meeting with potential Arab investors.

The FIGC wants to understand who Milan really belong to. If they belong to Elliot, even though the transfer of the club to RedBird was communicated in 2022, the Rossoneri would be commiting a crime against not just FIGC but UEFA as well.

Kaustubh Pandey | GIFN