After Elliott Management and AC Milan made official statements following the raid on the club’s headquarters yesterday, RedBird Capital have provided one too.
On Tuesday evening, the news filtered that the financial authorities had arrived without warning at Casa Milan in order to seize some documents pertaining to the club’s ownership structure and the sale back in 2022 from Elliott to RedBird.
This morning’s edition of La Gazzetta dello Sport gave a detailed round-up of what we know so far regarding the investigation, while the brilliant Felice Raimondo picked apart the various cases that could be brought against Milan.
Last night, Elliott issued their response to the notion that they are still in control of Milan, and a statement from RedBird along the same lines was expected.
The editorial staff of MilanNews have relayed statements of a RedBird spokesperson regarding the investigations by the Milan Prosecutor’s Office into alleged irregularities in the sale of the club between Elliott and RedBird.
“RedBird Fund IV and its investors own 99.93% of AC Milan; the remaining 0.07 is in the hands of individual Italian shareholders who are long-time fans of the Club [the APA].
“The idea that RedBird does not own or control AC Milan is absolutely false and is contradicted by all evidence and facts, including those that allegedly are the basis of the investigation.
“When we took control of the Club after the closing, Elliott provided a loan to RedBird with a three-year maturity and no voting rights. Our goal is to bring Milan back to the top of Serie A and European football – everything else takes away from achieving this goal.
“There are no ongoing discussions with any investor who could exercise control over the Club. RedBird is the controlling owner of AC Milan and will remain so.”
Plain and simple.
Forza Milan.
All smoke. No fire.
poor Milan.. from banter to li or whatshisname, to ‘little light’ by elliot to wahtever the f is happening now.
Cant we go a single f*cking year without drama?
There is no drama. But there’s you trying to create it because of your dislike of RedBird (and Pioli). Tell me I’m wrong.
Jerry could change the colors to black and blue and you would still pretend that everything’s fine hahaha
We could win three consecutive UCLs and you’d still pretend it’s not. It’s impossible to know what you want and when you were ever happy. If you hate RedBird on moral grounds then surely you despised Berlusconi too.
We have been operating in financial grey areas for far too many years now. I’m choosing to believe this incident was an end to the shadiness, not the start of it. Unlike most on here I’m will to be wrong, but that’s what I’m hanging my hat on.
Thanks for your concern. We were closer to win a UCL with the previous management so I don’t know if we’ll win it soon, especially three in a row. Now we’re in UEL. Not sure why I should be happy when we fire a management that won a scudetto despite very tight finances, sell a future bandiera to buy some no names, get ejected of UCL in december, fight to build a stadium/mall out of the city, get raided by the minister of finance, wear blue and pink jerseys, etc. The Jerry circus is in town and it’s not fun to everybody.
I can’t reply to your bottom comment but its off the charts ridiculous…..
We were more likely to win UCL under previous management being the Chinese???
I think he’s talking about management ie Maldini, not the ownership
You wanna be a Maldini fan boy go ahead.
So ridiculous and so sad. It’s amazing to me you’re still cheer leading the numerous bad decisions of the prior management, and now you’re attacking Gerry? Someone who has steadied the ship and launched us into financial stability? Oh please.
I think you mean Elliot
I clearly didn’t. The investments made into improving this team were done on a sound footing. Elliot and Maldini were too scared to sell anyone.
Well Pioli is an average manager first of all. Secondly, where there is smoke there is usually fire, whether it’s controlled fire or otherwise, there’s definitely fire.
If everything is transparent I’m glad and they can put it to rest and continue with projects like stadium etc. Last thing we need is another drama after years of walking on the edge of bankrupcy. I’ll be even more glad when someone who actually have cash will step in as investor.
Aside from liking or not the current management, all this doesn’t look like a serious situation.
Obviously there is something in the entire story (if you start digging, there is almost always something), otherwise it wouldn’t be escalated like that, but it doesn’t feel too serious – at least with the information we have so far.
The club valuation thing seems the trickiest but still not easy to prove.
The most interesting thing would be to understand why this is happening though. Someone is after Gerry, but who and why.
Sala, mayor of Milano
Giorgia Meloni. Milan came out strongly against a new policy of her government regarding transfers and the withdrawal of The Growth Decree. I think this more far reaching then some want to think.
The stadium plans must have hurt somewhere. So they send out a message to the club.
Selling 41% share won’t relinquish control.
It wouldn’t surprise me if Meloni’s corrupt government is responsible for these accusations. Ever since Milan bitterly opposed the ending of the growth decree…
Orrrrrrr it’s Sala who’s the slimmest political type you can find.