The investigation into AC Milan’s purchase by RedBird Capital Group from Elliott Management could speed up the potential Arab investment in the club, it is claimed.
Respected Italian journalist Felix Raimondo has shared his thoughts on the news that Casa Milan was raided by the Guardia di Finanza on Tuesday afternoon.
Milan’s current CEO, Giorgio Furlani, is being investigated by the Milan Prosecutor’s Office for his role in the deal. There is also an investigation into Milan’s former CEO, Ivan Gazidis.
The main point of the investigation is the corporate transfer between RedBird and Elliott Management which took place in August 2022. The alleged offence is that of obstructing the supervisory activities of the FIGC regarding the legal requirements of clubs owning football teams.
Raimondi believes that there is nothing for Milan to be concerned about on a sporting level, meaning there should not be any major fines or points deductions that can damage the playing operation.
He believes that it is a very shaky investigation, but did suggest that one outcome could be that RedBird accelerates the idea of getting investment from the Arab world to remove Elliott from the equation.
“Milan risks absolutely nothing on a sporting level, the investigation concerns the managing directors Furlani and the former Gazidis. They risk the sanctions provided for in Article 2638 of the Italian Civil Code. Elliott, moreover, no longer exercises influence over Lille. So to even hypothesise a violation of the timeshare legislation is fanciful to say the least. The investigation seems to me to rest on a far from solid foundation. Perhaps, however, it could accelerate the entry of the Arab partner in place of Elliott (now RedBird’s creditor). We shall see,” Raimondi said.
