This morning, Corriere della Sera seeks to shed further light on the motivations behind the Financial Police's investigation and especially the searches at the Rossoneri club headquarters, Casa Milan.
According to the reports from the Italian newspaper, contrary to what was reported yesterday from various sources, it is inaccurate to think that the selling price is at the center of the investigations. Instead, everything revolves around the "prospective sale of part of the shares to interested Arab investors."
This would be the reason why doubts have arisen about the actual transfer of ownership from Elliott to RedBird. Specifically, CorSera emphasizes how in note number 14305/24 deposited by the Financial Guard's Police Valuation Unit on February 1, 2024, the search at Casa Milan would be the "result of investigative activity following the news that RedBird was about to sell part of Milan to investors from the Arab world, with whom initial discussions had already taken place on December 19, 2023." Hence the initiation of the search.
AC Milan ownership, RedBird, and their position
Specifically, in the hands of the Prosecutor's Office, is the AC Milan Investor Presentation document, in which the company presents itself to potential Arab investors, indicating that the vendor loan of 560 million is currently a guarantee that Elliott still maintains ownership of the Rossoneri club. Meanwhile, yesterday RedBird came out openly with a statement, following a few hours after Elliott's fund: "RedBird Fund IV and its subscribers own 99.93% of AC Milan; the remaining 0.07% is held by individual Italian shareholders who are long-time fans of the Club. The idea that RedBird does not own and control AC Milan is absolutely false and contradicted by all evidence and facts." The American company then clarified its position on the vendor loan: "When we took control of the Club after closing, Elliott provided a loan to RedBird with a three-year term and no voting rights. Our goal is to restore Milan to the top of Serie A and European football - everything else detracts from achieving this goal. There are no discussions with any investors who could exercise control over the Club. RedBird is the controlling owner of AC Milan and will remain so."
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