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.”
