The Milan Public Prosecutor’s Office has requested the closure of the investigation into AC Milan’s ownership situation, a report claims.
Read SempreMilan ad-free and get access to exclusive news. Click here for a free trial!
The investigation began in the spring of 2024 when there was a raid on Casa Milan and documents pertaining to Milan’s ownership were seized. However, it had not produced any developments on the sporting justice front and could now be definitively closed on the criminal front as well.
Closure requested
La Gazzetta dello Sport (via MilanPress) report that the ten-page document drawn up by the public prosecutor reveals a previously unpublished detail: Elliott Management will retain a direct 5% stake in the Rossoneri even after the ‘vendor loan’ has been repaid.
According to the investigation documents, this circumstance is also confirmed by some chats present in the documentation acquired by investigators. It would therefore be a residual stake remaining in the hands of the fund led by Gordon Singer, who already owned the club before the handover.
In August 2022, Milan were sold to RedBird Capital Partners, who took control of the club. In January, RedBird paid off the vendor loan to Elliott by welcoming the involvement of Manulife-Comvest, who have effectively become the new lender.
The Milanese judiciary’s investigation stemmed from a complaint filed by Blue Skye, a former minority shareholder until the change of ownership in 2022. That report was the starting point for the Prosecutor’s Office’s investigation, which will end after the request to close the case.