Last year’s $1.3 billion sale of AC Milan to New York-based investment firm RedBird Capital Partners is under investigation in Italy.
The Guardia di Finanza — which investigates financial crimes — has reportedly requested documents from accountants and advisors who helped facilitate the deal. The agency is looking into alleged embezzlement claims by Milan minority investor Blue Skye Financial Partners.
In June 2022, Blue Skye claimed that former Milan owner Elliott Management held talks “behind closed doors” about the sale.
That same month, Blue Skye asked a U.S. court for documents regarding the deal to prove that Elliot “operated with malice or deceit.”
In July 2022, U.S. District Judge Katherine Polk Failla authorized Blue Skye to obtain a “limited” number of documents to use in court.
Two months later, Blue Skye’s attempt to freeze the sale of Milan was dropped following a hearing in an Italian court.
Milan — the 14th-most-valuable soccer team in the world, per Forbes — won its 19th Serie A title last season and is currently second in the domestic standings behind Napoli.
RedBird Capital's purchase of AC Milan under investigation
RedBird Capital's purchase of AC Milan under investigation
https://frontofficesports.com/redbirds- ... stigation/
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Rangersking669
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Re: RedBird Capital's purchase of AC Milan under investigation
Blue Skye has been trying to find whatever way possible to stop the sale ever since it happened. They tried to sue redbird and Elliott and AC Milan and utterly failed. Nothing will come of this investigation.
Re: RedBird Capital's purchase of AC Milan under investigation
It depends. Italian laws are different than American laws.Rangersking669 wrote: ↑Thu Jan 26, 2023 6:33 pm Blue Skye has been trying to find whatever way possible to stop the sale ever since it happened. They tried to sue redbird and Elliott and AC Milan and utterly failed. Nothing will come of this investigation.