Italian Police Raid AC Milan Headquarters Over RedBird Sale

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As part of their investigation into the sale of AC Milan to American investment group RedBird, Italy’s financial police investigated the club’s offices on Tuesday.

While Milan denied any involvement in the club’s investigation, they did admit that current and former CEOs Giorgio Furlani and Ivan Gazidis were the subjects of the raids, as reported by Italian news agencies ANSA and AGI.
The club went on to say that Milan were “cooperating fully with the investigative authorities” and that the two were under investigation for “incorrect communication” with supervisory agencies.

The Italian football federation COVISOC is investigating Furlani and Gazidis for allegedly hindering their work, according to AGI. The US firm Elliott Management sold Milan to RedBird for 1.2 billion euros (about $1.3 billion) in August 2022.

Elliott’s financial stake in the acquisition was disclosed to AFP at the time of sale. Elliott had provided RedBird with a vendor loan to assist finance the acquisition.
In 2018, Elliott took over Milan when Chinese investor Li Yonghong failed to repay a debt he had taken out when he purchased the club from Fininvest, the company owned by the late Silvio Berlusconi.

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