MILAN (AP) — The offices of AC Milan were raided Tuesday by police as part of 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.
Italian currency police raided Milan offices on Tuesday and also reportedly raided the homes of current CEO Giorgio Furlani and former chief executive 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.
“With respect to today’s search for its venue, AC Milan is a third party and is not related to the ongoing legal proceedings related to the acquisition of the club,” Milan said in a statement sent to reporters, adding The Associated Press.
“The investigation, which also reaches the legal representatives authorized to sign up, Giorgio Furlani and Ivan Gazidis, reaches the communications to the competent supervisory authority. The club cooperates fully with the investigating authority.
Still, Milan could be fined or reduced through the Italian Football Federation.
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