ANSA: Prosecutor’s office investigating the sale of AC Milan to RedBird

By Oliver Fisher -

The Prosecutor’s Office in Milano has opened an investigation into the transfer of AC Milan from Elliott Management to RedBird Capital, a report claims.

As reported by ANSA (via MilanLive), the special currency police unit of the Guardia di Finanza are making acquisitions as part of an investigation into the sale of Milan from Elliott to Gerry Cardinale’s RedBird last August.

The GdF are not searching the headquarters of Casa Milan, but other places where the official agreement for the transfer of ownership – which took place last August – was consummated.

The investigation in question seems to start from a complaint by the former minority shareholder in the management of the club – the Luxembourg company Blue Skye – who claimed through the directors D’Avanzo and Cerchione that they had been overridden in the decisions on the sale of the Milan shares.

Already last September Blue Skye had renounced the precautionary appeal presented to the Milan court to block the sale of the Rossoneri by Elliott to RedBird.

There are currently no specific people under investigation, but the file opened by the Prosecutor Giovanni Polizzi is looking into potential misappropriation and embezzlement.

Tags AC Milan


    1. This won’t affect Milan in Serie A as they haven’t tried to gain advantages over other teams. One thing that will happen, if the suspicions are true, is that the sale of Milan will be deemed null-and-void, thus pulling the club from Elliott & Redbird and having it sold again for a sum found appropriate by the Court. Redbird will then be charged along with Elliott, but AC Milan will not face any sporting sanctions.

  1. Today’s news reports offer no details of any alleged embezzlement, or of the entities that were harmed, so I fail to see a connection. Is Blue Skye alleging that being shut out of the negotiation constitutes the embezzlement, or is this an attempted poison pill by alleging (or attempting to expose) wrongdoing?

    Embezzlement may have different context in Italy, along with what 4% ownership gets you. Blue Skye seems to think it buys veto power, but I’d say it barely gets its chief executive a selfie with Ibra.

  2. I no longer want to support this club. I’ll rather support any other team that comes up against them. Screw this club.

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