Following the searches at the company headquarters and the investigation concerning the transfer of AC Milan from the Elliott fund to RedBird, a spokesperson for Gerry Cardinale’s company clarified the situation. There have been accusations linked to the actual ownership of the club, following it’s sale from Elliott to Redbird in 2022. A statement from Redbird was released today, stating:
“RedBird Fund IV and its subscribers own 99.93% of AC Milan; the remaining 0.07% is held by individual Italian shareholders who are long-time fans of the Club. The idea that RedBird does not own and control AC Milan is absolutely false and is contradicted by all evidence and facts, including those purportedly underlying the investigation.”
The spokesperson’s statement further addresses the present situation: “When we took over the Club after the closing, Elliott provided a loan to RedBird with a three-year term and no voting rights. Our goal is to bring Milan back to the top of Serie A and European football – anything else detracts from achieving this goal.”
Lastly, a comment on the future and RedBird’s plans: “There are no discussions underway with any investor who could exercise control over the Club. RedBird is the controlling owner of AC Milan and will remain so.”
