AC Milan‘s offices were raided by police on Tuesday as part of an investigation by Italian prosecutors into the sale of the Serie A giant.
RedBird Capital Partners purchased Milan from fellow American firm Elliott Management in August 2022, but Milan prosecutors claim Elliott still owns and controls the Italian club.
Italian financial police raided Milan’s offices on Tuesday and also reportedly searched the homes of current CEO Giorgio Furlani and former chief executive Ivan Gazidis, who held the role from 2018 to 2022.
Furlani and Gazidis are being investigated for allegedly hiding information related to the sale from the Italian soccer federation.
“In regards to the search carried out today in its headquarters, AC Milan is a third party and extraneous to the ongoing legal action concerning the purchase of the club,” Milan said in a statement.
“The investigation, which also involves the legal representatives with authority to sign, Giorgio Furlani and Ivan Gazidis, hypothesizes incorrect communications to the competent vigilance authority. The club is giving its full cooperation to the investigating authority.”
Milan could nevertheless be fined or docked points by the Italian soccer federation.
Information from The Associated Press was used in this story.