Searches have reportedly taken place at AC Milan’s headquarters by the Guardia di Finanza in relation to RedBird Capital Group’s deal to buy the club from Elliott Management.
As has been reported by La Gazzetta dello Sport, Milan’s current CEO, Giorgio Furlani, is being investigated by the Milan Prosecutor’s Office for his role in the deal. The same is true of Milan’s former CEO, Ivan Gazidis.
Casa Milan was searched on Tuesday and the two men are being investigated. The crux of the investigation is the corporate transfer between RedBird and Elliott Management which took place in August 2022.
The alleged offence is that of obstructing the supervisory activities of the FIGC regarding the legal requirements of clubs owning football teams.
No reports have named other current Milan officials as part of the investigation but it may not be limited to Furlani. Searches were carried out at private homes as well as at Casa Milan, with documents seized and data from computers and telephones copied.
Milan released a statement to the press in the midst of these reports which can be seen below.
“With regard to the search that took place today at its headquarters, AC Milan appears to be third party and extraneous to the ongoing proceedings concerning the acquisition of the same, which was finalised in August 2022. The investigation, which also involves the legal representatives with signatory powers, Giorgio Furlani and Ivan Gazidis, the current and previous CEO of the Club, hypothesising incorrect communications to the competent supervisory authority. The club is lending its full cooperation to the investigating authority.”
I don’t want to hear one more word about defending these sh1tbag owners.
The fact the takeover took so long was very unusual and ruined our summer 2022 mercato.
This is why it is so important to have someone with integrity and the clubs interest at heart (Maldini).
These “owners” couldn’t even actually pay for the club they bought!!
RedBirdOut
Makes it difficult to take you seriously after comments like this…
Especially when you take to heart everything you see and read without trying to discern whats true and what isn’t.
Makes it extremely difficult to take you seriously as a Milan “fan”
Seems you’re more concerned with defending these greedy crooks.
RedBird “own” Milan for less than 2 years and you have loyalty to them why? Do you work for them?
I am tired of seeing this great club being passed back and forth by unscrupulous financiers and vulture fund.
It is AC Milan I support, and these “owners” have not come close to proving themselves as worthy custodians.
It is hugely concerning to fans as it will be to the employees of the club including players
“According to the accusations, the current owner, Gerry Cardinale of the Red Bird fund, would still be under the dominant influence of the seller, the American fund Elliott of financier Paul Singer, as suggested to the monetary police unit of the Guardia di Finanza by three documentary sources of unpublished circumstances. If these accusations were confirmed, according to the results of today’s searches at the Milan headquarters, and at the suspects’ homes, and the seizure of phones and computers, AC Milan would then be accused of having circumvented, not not only the laws of the FIGC, but also the rules of UEFA by violating article 5 of the rules of the body. Heavy sporting sanctions therefore also hover over the Rossoneri.” – French football weekly
Because French Football Weekly contacted an oracle? A fortune teller? Let it play out.
This is worldwide news, based on facts
Grabs popcorn 🍿🍿🍿
figc is os d@mn useless man. they should worry about raising the lvl of the league not this bs
Do you mean that the Italian government should shut their eyes when billionaires are messing with laws and taxes, just so Italian football teams can bring better players to run after a ball on Sundays?
when you put it that way. sure. the whole country is corrupt AF anyway. Its not like that tax money is gonna get used for anything worthwile. all into a dirty politicians pocket
You’re not wrong but you’re a bit fatalist. Most countries today are in the same case, it doesn’t mean we should give up. It’s hardly a surprise that the Wall Street crooks could be involved in some financial malpractice. Now let’s see if there’s evidence and if Milan would suffer from this.
Fatalist. Maybe. I will say this. Control is overrated.
Either way. All seems like bs to me. If there was any obstructing they’d took a gander a year ago or even sooner.
I mean, Gerry is trying to build a stadium now and this sh!t happens?
Figc always shoot themselves in the foot and that’s why this league is a joke. Do you really think that the prem league is run so well without clubs sketchy stuff? They sweep it under the rug Whereas in Italy every season there’s corruption
The mayor sent them because we’re building a stadium.
That is exactly my thoughts, the mobs are shaken to the ground and now they are coming after you 😉
Where was the investigation when the old degenerate was selling the club in overtly suspicious way to a person that couldn’t pay his apartment rent and default on his payments few months later?
Also weren’t both Gazidis and Furlani Elliott employees before and during the sale?
Elliott still has its own members on the board including Paul’s son Gordon.
He owned the country thats the difference. This guy is marely trying to build its own stadium so he can actually get some steady revenue
That’s because “shady Chinese” aren’t shady. Americans are. LOL!!!
So point deduction and no uefa tournaments for us. Wonderful.
so this is an actual risk ? damn.
Damn red birdie
If this means we gonna end up getting banned in europe or something then those involved should quickly seek cover because i can already smell a lynching in the air, Hell I would even bring a rope 😀 kidding aside a potential ban would set us back years and some players would most likely demand to be sold. Can anyone actually say if that could be at risk ?
It’s confusing, even la Gazza doesn’t have much information right now. It seems like Elliott is still the owner of the club despite reporting the sale of the club to Redbird. Most companies involved are based in Luxembourg but it seems that the Italian financial watchdog is at an advanced stage of investigations. They also raided the homes of Furlani and other people involved.
Well wasnt the luxembourg office set up at Li’s takeover ? Wasnt that part of him suing elliot later on. Yeah the rest of the info was in the article so got the part of their houses getting raided.
Guess the ownership will have a great reasoning to sell some of our priced assets if we get a ban even though i assume in case it happen it will drag out for some time.
Many of you laughed at me, when I said, this looks like laundering money. That is why InvestCorp walked away from deal. Redbird will fail to pay to Elliot, than comes one more circle.
Yes – see my post above
Whether individuals or the club are found guilty/punished time will tell. What is sure is that the figc can’t raid private homes and business offices without approval by a judge, so they clearly have some strong evidence
Damn that is the last thing we need right now but thanks for clarifying it. It might even affect us in the last part of the season but compared to a future ban its still small worries. Milan has a long history of attracting shading ownerships so i can really say im surprised that things like this happens but im nevertheless a bit shocked by this news.
😀 shady ownerships…
Oh man, shady AF!
So technically Elliot have owned the club since Li’s takeover and still do.
They just keep roping in buyers who can’t pay and offer them an attractive loan options
Another default is in their favour.
It was very suspicious when there was a solid offer from Middle East to buy Milan and they went with RedBird who didn’t have the money.
Elliot is a classic predatory lender
Save us from these greedy Wall street B^astards!
From my recollection in the media at least it wasnt a great offer but who knows if it was a media spin by the ownership. In the end though i doesnt want milan to be owned by a middle easterners either as they pretty much is just trying to sportswash and paint temselves in a better light, Might actually throw in the towel after over 30 years of support of the club if we end up on saudi hands,
This is going to be fun. Milan under 23 team will play in Serie B while Milan is playing in Serie C.
We might actually win something next year.
i know you are saying it in fun but the u23 teams cant get promoted to serie b currently. It might change in the future but not currently.
damn
Ah the drama that keeps on giving. Hopefully, there is nothing there and nothing bad will come out of this. It will really suck to be heavily punished after years of major improvements, from financially perspective and football perspective.
“It is reported that eyebrows were raised when Milan representatives were shopping a document around in Saudi Arabia trying to find new investors.
Elliott Management famously took charge of Milan in 2018 after former owner Yonghong Li failed to keep up loan repayments to the trust fund.
Yonghong Li was only able to purchase Milan from Silvio Berlusconi thanks to that loan just over a year earlier.” sky sports italia
Yeah read that too. Basically, all the articles that i read from multiple outlets claim red nird is not the actual owner. Apparently theu do have some evidence to corroborate that. Who knows… seriously hope nothing bad happens to our milan. Cardinale elliot or not, milan above all of them.
Not what we needed right now, off or on the pitch. Let’s see how this plays out.
Isnt pioli the problem at ac milan??? He might end up being a solution 🤣🤣🤣
I find it hilarious that this is all happening while the current owners are in the thick of it when talking about building a new stadium. I smell a bit of power play by someone in the government to keep the club in San Siro.
haha, very good movie plot!
Perhaps the Mayor has had enough of being denigrated by these cocky foreigners!
Very Mafioso
it is funny but also a possibility all. I mean its football in Italy, do I have to say more? I wouldn’t be surprised is all.
I thought that to myself also when i first read the article and unfortunately this could actually be true due to how much the mayor wants us to stay at the stadium but i didnt really want to contribute to any conspiracy theories but in this case its actually not too far fetched. Milano is probably the richest city in italy if we exclude the vatican city from rome so sala is a powerful man with lots of contacts in the echelons of the country and its power structure.
This is Idiotic AF. There are no concrete charges and people already over reacting like there’s been a verdict…
Italia loves its drama and scandal. Somebody is huffing and puffing because of a supposed document seen in Saudia that may or may not be of any relevance? Yea, that’s irrefutable evidence. FFS….
What a clown show.
Im pretty sure that everybody knows that no-one has been convicted but you cant nevertheless really disregard that when ac milans office and some of its current and former members of the management has their homes raided by the authorities that its quite alarming and a great cause for concern.
no but you kids here will do anything to complain about AC Milan
this is a Milan hate blog not a fan blog
hahaha are you seriously arguing that im one of those hating on this blog when im one of those few who basically always is behind the coach, players and club while you sit here on a daily basis b1tching and offending everyone and name calls in regard of maldini are you freaking mentally deranged or something, Absolutely priceless, hollywood couldnt have come up with that trash of yours you keep regurgitating on a daily basis.
Facts!
Just stay clear. Do what I do, simply ignore them (one would think they would go away but they don’t, they’re just attention deficit seeking). Dude has zero original points, always leaching off of others’ comments. Can’t formulate his own thinking. The once in a blue moon occurence is so rare with him that everyone is shocked when he forms a complete sentence.
I find it funny IKWYDLS the guy who is scummy enough to wish injury to Pobega is talking
you are a sh*tty individual, stop thinking you are smarter than everyone
dumb kid
IKWYDLS I agree and I wish I could just ignore it but to be fair we have already seen before what happens if we let a bunch of disturbed individuals take charge making up bs and what it can do in politics so im not gonna accept people spreading misinformation in any extent. Its beyond me and probably the most people around here why boulden hasnt been banned on SempreMilan a long time ago.
Boulden First of all IKWYDLS is always friendly on this blog and he certainly showcases more intellect than you have ever done so how about you take a good look in the mirror before you climb up on your white horse and accuses people of being dumb. Regardless of whatever IKWYDLS might have said probably in in jest you do realize that i for one have always been speaking in favor of Pobega right ? Back off before i make you my pet project here on this website harrassing you constantly because i seriously has better things to do but dont think i wont.
Some people on here seem to support the owners not the club.
Waste of time trying to use logic
SJF yeah I’m sure I’m talking to deaf ears regarding Boulden or that he simply doesn’t understand it, anyways I’m not gonna stay silent when he attacks me for no bloody reason.
Oh wow boulden spewing brain dead nonsense, and attacking someone with genuine concerns and an original piece. Also said someone who has been one of the better commenter on this site.
Bolden boulden boulden.
Tsk tsk. You are a real life stichk.
Whether the case by the investigators results in sanctions or not, one thing is sure. They had to have sufficient evidence to get permission by the court/judge to raid private homes and offices.
I’m not so sure. Guess we’ll see how this plays out.
Much Ado About Nothing… Keep over-reacting, folks.
Damn you red birdie. If you can not buy, don’t buy