The sale of Milan has ended up under scrutiny of its prosecutors. Milan's CEO, Giorgio Furlani, is being investigated by the Milan Public Prosecutor's Office for obstructing the supervisory activities of the Italian Football Federation. The investigation concerns the sale of the Rossoneri club from the Elliott fund to Jerry Cardinale's Redbird: for the investigators, in essence, the club would still belong to Elliott - although there is a concrete lack of communication to that effect. The suspects also include Ivan Gazidis, CEO at the time of the Elliott-Redbird transaction. The Guardia di Finanza carried out searches at the headquarters of the Rossoneri company, the office of the CEO and other people with top positions. The allegation in the investigation, which also concerns two other people operating in Luxembourg, is obstruction of FIGC's supervisory activities regarding the disclosure of the company's beneficial ownership. The communication, however, according to the Prosecutor's Office, would not have taken place. As a result, the assumptions would be that Milan did not really belong to Gerry Cardinale's fund, as instead communicated in August 2022, when RedBird bought the club for more than a billion euros from Elliott. According to the investigation, the Rossoneri club has actually always belonged and remained with the fund headed by Paul Singer. According to the search decree, "from the analysis of the documentation acquired, grounded doubts emerged about the actual ownership of Milan". Among the elements that have turned on the radar is, for example, an element on the command of the company: according to the investigation, it would appear that at the top of the chain of command is not RedBird or Gerry Cardinale, but Rb Fc Holding Genepar LLC, which is based at the same U.S. address as two of Redblack's majority shareholders - as an expression of the Elliott fund.
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