MILAN (AP) — AC Milan’s current and former owners in the United States said Wednesday that allegations made by Italian prosecutors questioning the identity of the boss of the seven-time European champion were false.
Milan’s offices were raided by police on Tuesday following an investigation by Italian prosecutors into the sale of the Serie A giant.
RedBird Capital Partners bought Milan from U. S. firm Elliott Management in August 2022, but Milan prosecutors say Elliott still owns and controls the Italian club.
“RedBird Fund IV and its investors own 99. 93% of AC Milan; The remaining 0. 07% are individual Italian investors who are long-time enthusiasts of the club. The concept that RedBird does not own AC Milan is simply false and contradicts all the evidence and facts,” RedBird said in a statement.
“When we parted ways with the club at closing, Elliott gave RedBird a non-voting loan for three years,” RedBird added.
In a separate statement, Elliott said “this allegation (from Milan prosecutors) is false. “
“AC Milan was sold to RedBird on August 31, 2022. From that date on, Elliott’s budget had no ownership over AC Milan,” Elliott added.
Italian monetary police also reportedly raided the homes of current CEO Giorgio Furlani and former CEO Ivan Gazidis, who held the position from 2018 to 2022.
Furlani and Gazidis are under investigation for allegedly concealing similar details of the sale to the Italian Football Federation.
Milan considered it “a third party and unrelated to the ongoing legal action,” adding that it “offers its full cooperation to the investigating authority. “
Still, Milan could be fined or reduced through the Italian Football Federation.
RedBird responded to the hypothesis that the club is courting new investors in Saudi Arabia or elsewhere.
“There is no discussion with an investor who has control over the club,” RedBird said. “RedBird is the majority owner of AC Milan and will continue to be so. “
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