Milan has issued a formal statement affirming their full cooperation with the authorities subsequent to a raid on their premises, during which Ivan Gazidis and Giorgio Furlani came under investigation.
The Italian Financial Police conducted a raid on Milan’s offices, confiscating files and computer equipment for further scrutiny.
According to the prosecution, Elliott Management still maintains control and ownership of AC Milan, casting doubt on the legitimacy of the club’s sale to Gerry Cardinale’s RedBird in the summer of 2022.
This development stems from legal actions initiated by certain previous minority shareholders regarding the aforementioned sale.
Given that Elliott Management also holds ownership of Lille, retaining control of Milan would contravene regulations. As a result, they have notified the FIGC and UEFA of their purported relinquishment of control over the Rossoneri.
According to Sky Sport Italia, former CEO Gazidis, who served from 2018 to 2022, and current CEO Furlani are subjects of investigation for alleged concealment of information from the FIGC.
Milan, in their statement, assured that they are cooperating fully with the authorities and clarified that the club itself is not the subject of the investigation.
Reports indicate skepticism arose when Milan representatives attempted to solicit new investors in Saudi Arabia, prompting scrutiny.
Elliott Management notably assumed control of Milan in 2018 following former owner Yonghong Li’s failure to meet loan obligations to the trust fund.
Yonghong Li’s acquisition of Milan from Silvio Berlusconi was made possible by the aforementioned loan, secured just over a year prior.