With “ghost” ownership, Milan would risk penalties and the Champions League

Milan, the investigation into the change of ownership and the risks faced by the club in Serie A and for the Cups

The Milan has come under investigation for the purchase by RedBird of the club in August 2022. The accusation made by the Milan prosecutor's office is that “the Elliott fund“by American financier Paul Singer”currently retains substantial control of Milanwhereas – reports Il Corriere della Sera – the supervisory authority Federcalcio would instead have been represented by the actual transfer of ownership in favor of compatriot Gerry's RedBird fund Cardinalapparent buyer on August 31, 2022 for almost 1.2 billion euros: 600 million with his own money and 560 million with money lent to him by the seller Elliott through the issue of financial products. Which yesterday led the deputy prosecutor and the prosecutors to search the Milan headquarters And to investigate the CEO from 2022, Giorgio Furlaniand its predecessor, from 2018 to 2022, Ivan Gazidisfor the hypothesis of obstacle to the activity of the Italian Football Federation, a public body in the supervision of the legal requirements of the owners of football clubs. The denials from the two groups came immediatelyboth Elliott and RedBird reject any charges.

A few lines of comment, to underline that Milan is the object of the transaction between Elliott and RedBird – and therefore today of the investigation that calls into question its veracity -, and consequently the company is “third and unrelated to the proceedings“, the note from RedBird. As Elliott forcefully says “false accusation“. But if then – continues Il Corriere – instead the accusation was proventhen Milan would also risk in terms of sports justice. Today the prosecutor's office Figc will ask for the documents. When there is a change of ownership, the information must be sent to the Co.APS Advisory Commission (Commission for the acquisition of corporate shareholdings) of which the FIGC avails itself: whoever buys must comply honourability requirements. The company that does not respect the laws is punished with the foreseen sanctions or, failing that, with them of the fine or penalty of one or more points in the standings”. Finally, there is the question of UEFA regulations which prohibit the timeshare for teams participating in European competitions, whose violation can bring to exclusion from the Cups.