"The ten-page document drawn up by the public prosecutor reveals a previously unpublished detail: Elliott Management will retain a direct 5% stake in the Rossoneri even after the 'vendor loan' has been repaid. According to the investigation documents, this circumstance is also confirmed by some chats present in the documentation acquired by investigators."
"In August 2022, Milan were sold to RedBird Capital Partners, who took control of the club. In January, RedBird paid off the vendor loan to Elliott by welcoming the involvement of Manulife-Comvest, who have effectively become the new lender."
"The Milanese judiciary's investigation stemmed from a complaint filed by Blue Skye, a former minority shareholder until the change of ownership in 2022. That report was the starting point for the Prosecutor's Office's investigation, which will end after the request to close the case."
The Milan Public Prosecutor's Office has requested closure of an investigation into AC Milan's ownership structure that began in spring 2024 following a raid on Casa Milan. The investigation, initiated by a complaint from former minority shareholder Blue Skye regarding the 2022 ownership transfer, found no developments warranting sporting justice action. Investigation documents reveal Elliott Management will retain a direct 5% stake in the club even after RedBird Capital Partners repays the vendor loan originally provided by Elliott. This residual stake arrangement is confirmed through chats discovered during the investigation. RedBird acquired Milan in August 2022, and in January paid off the vendor loan with Manulife-Comvest becoming the new lender.
#ac-milan-ownership #redbird-capital-partners #elliott-management #investigation-closure #vendor-loan
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