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RedBird’s Purchase of AC Milan Under Investigation

Jan 26, 2023

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.

Source: Front Office Sports

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