Elliott Management respond to Milan investigation: ‘This allegation is false’

By Oliver Fisher -

Even though there was sun over Casa Milan during the day, it would be fair to say that it has turned into a bit of a stormy evening.

As was reported by La Gazzetta dello Sport among other sources a few hours ago, there was a raid carried out by the financial authorities at the Milan offices as they looked to seize documents of interest.

Milan’s current CEO Giorgio Furlani is being investigated by the Milan Prosecutor’s Office alongside the former CEO Ivan Gazidis. The crux of the investigation is the corporate transfer between RedBird and Elliott Management which took place in August 2022.

Then, the esteemed Italian lawyer Felix Raimondo shared his thoughts on the news that Casa Milan was raided by the Guardia di Finanza on Tuesday afternoon, suggesting that there is no reason for fans to worry about sporting punishment.

Now, Elliott Management have provided a statement regarding the matter which has reached us, and we can relay it below.

“We note reports this evening that the current and former CEOs of AC Milan are under investigation in connection with an allegation that the football club ‘still belongs to Elliott, and it was hidden from the Football Federation’. This allegation is false. AC Milan was sold to RedBird on 31st August 2022. As of that date, the Elliott funds have had no equity interest in, or control over, AC Milan.”


Tags AC Milan


  1. ACM was/is/would be a tiny asset for Elliott. They have $71B assets undermanagement, would find it strange for them to risk anything for a 1B asset, 2B on a good day.

  2. Milan prosecutor saw a club that is run properly financially, that even had the nerve to post profit and they had to go raid it trying to find irregularities.
    Not to mention this same club doesn’t want to continue being a tenant at the city owned relic of a stadium and continue paying them rent. For over a decade they have set up nothing but red tapes when it comes to Milan trying to build their own stadium.

    1. Yes the Milan prosecutor has nothing else to do these days so he’s wasting some time to tackle one of the biggest clubs in the world for no reason. He’s probably trying to get humiliated in major media around the globe and get fired.

      Either that or some financial acrobats from Wall Street use their magic tricks once again.

  3. Zero evidence against the best operated and most financially secure club in Italy. I’m sure they will now do an open audit of the books to prove it.

  4. Well well well. This is interesting..lots happened today but still not enough info. I guess it’s best to let the dust fully settle and figure out exactly what’s going on instead is speculating. But the optics doesn’t look good

    1. OR we could crucify every American just because “it’s all their fault and the Saudis would have made Milan win the UCL 3 times already!!!”. 🙂

  5. Got some feeling this is some shady ploy from Milan mayor to force Milan to accept his plan to stay at San Siro.

    1. Hahaha according to the Wall Street fan club here that thinks it’s a mafia move from Sala and the Italian Justice to keep Milan in San Siro, then Inter should be raided as well.

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