The inquiry into RedBird Capital Group’s acquisition of AC Milan from Elliott Management is said to have the potential to expedite Arab investment in the team.
Felix Raimondo, a reputable Italian journalist, expressed his opinions on the reports that the Guardia di Finanza stormed Casa Milan on Tuesday afternoon.
The Milan Prosecutor’s Office is looking into Giorgio Furlani, the current CEO of Milan, for his involvement in the transaction. Ivan Gazidis, the previous CEO of Milan, is also the subject of an investigation.
The business transfer that occurred in August 2022 between RedBird and Elliott Management is the primary focus of the inquiry. The supposed offense is impeding the FIGC’s oversight of clubs that own football teams in relation to their legal obligations.
On a sporting level, Raimondi thinks Milan has nothing to worry about, therefore there shouldn’t be any significant fines or point deductions that could harm the team’s performance.
Although he thinks the probe is extremely dubious, he did offer the possibility that RedBird would increase efforts to secure Arab financing in order to take Elliott out of the picture.
“Furlani and the old Gazidis, the management directors, are under investigation; Milan is not taking any athletic risks at all. They run the risk of facing the penalties outlined in Italian Civil Code Article 2638. Furthermore, Elliott no longer has any influence over Lille. It is therefore, to put it mildly, improbable that there has been any breach of the timeshare laws. I feel that the probe is based on a very shaky foundation. But maybe it may hasten Elliott’s (now RedBird’s creditor) replacement by the Arab partner. We’ll see,” Raimondi remarked.
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