RedBird spokesperson on investigation about Milan’s ownership: “Absolutely false”

A RedBird spokesperson has stated that the investigation about the ownership of Milan is absolutely false, discrediting any grounds for any doubts.

Yesterday, Guardia di Finanza investigated Milan’s offices at Casa Milan and a thorough search was carried out. They have received information from other sources about the doubtful nature of RedBird’s ownership and there is a hypothesis that Elliot Fund still control Milan and there is doubt about who owns the Rossoneri.

A RedBird spokesperson has spoken to Gianluca di Marzio about the investigation, stating that allegations and doubts about the ownership are completely false and the same, they believe, applies to the basis or evidence for the investigation.

The spokesperson said: “RedBird Fund IV and its subscribers own 99.93% of AC Milan and the remaining 0.07 is in the hands of individual Italian shareholders who are long-time fans of the Club. The idea that RedBird does not own or control AC Milan is absolutely false and is contradicted by all evidence and facts, including those that allegedly are the basis of the investigation. 

When we took control of the Club after the closing, Elliott provided a loan to RedBird with a three-year maturity and no voting rights. Our goal is to bring Milan back to the top of Serie A and European football – everything else takes away from achieving this goal. There are no ongoing discussions with any investor who could exercise control over the Club. RedBird is the controlling owner of AC Milan and will remain so.”

If it is found that Milan are not owned by RedBird, they would be breaching not just FIGC regulations but also UEFA regulations and that would warrant a major action. While the saga is yet to fully take shape, it does seem as if RedBird and Milan are firm in their stance.

Kaustubh Pandey | GIFN