MILAN : Milan prosecutors are looking into last year's 1.2 billion euro ($1.3 billion) sale of AC Milan to U.S. private equity fund RedBird Capital from U.S. fund Elliott, a judicial source said on Thursday.Confirming earlier Italian media reports, the source said Italy's tax police are requesting documen
MILAN : Milan prosecutors are looking into last year's 1.2 billion euro sale of AC Milan to U.S. private equity fund RedBird Capital from U.S. fund Elliott, a judicial source said on Thursday.
The probe, which revolves around alleged embezzlement, originates from a complaint by Blue Skye Financial Partners, a minority investor holding an indirect stake of 4 per cent in the Serie A club, the source said. Elliott, which took over the club in 2018, billed Blue Skye's legal actions as"frivolous and vexatious", meaning it believes they have no reasonable basis in fact or law.
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