Milan, Elliott loan, and offer to Arab investors. Pif Fund notes: “Can take 41.7% of shares”|Primapagina

Tuesday news that shook the environment Milanthe Search by the Guardia di Finanza at the Rossoneri headquarters Following investigations launched by the Milan Public Prosecutor's Office regarding the transfer of the majority of the club, in August 2022, from the Fund. Eliot At the bottom Red birdculminating in the decision to investigate the CEO Giorgio Forlani And his predecessor Ivan Gazidis toThe premise of the crime of obstructing the activity of the Italian Football Federation in supervising the legal requirements of companies that own football teams. The premise is that Milan is actually still under the controlling influence of the then-obvious seller, Elliott Fund By financier Paul Singer.

GDF searches Milan home: Forlani and Gazidis are mentioned

Quarterly report Milan declared itself a third party in the matter and the Elliott Fund responded in a statement denying that it had shares in or control of the club. Meanwhile, further details are emerging about how the Public Development Fund and the Public Prosecutor's Office arrived at this hypothesis. Corriere della Sera Provides reconstruction of facts. Assumptions have yet to emerge Comparison of data submitted to the SEC and the Italian Federationas well as a very recent one The document that Milano was going to prepare for talks with Arab funds as potential investors. From the evidence of the accusation we read that there is Quarterly report Dated May 27, 2022, submitted by Milan to the Italian Football Federation, where No reference was made to the initial sales agreement that was signed 24 hours earlier. Furthermore, the document also deletes the portion of the meeting minutes that includes the minority shareholder Blue Sky Request clarification regarding the sale of the club. In addition to this, RedBird had informed the Italian Football Federation that half of the amount came from its own fund, while according to what the company itself reported to the US Securities and Exchange Commission (which oversees the American Stock Exchange), “the majority of the capital used in the sale” would come “from a non-profit company.” Associated with RedBird.

Milan and Elliott's position

Seller Loan and Arab Investors -And then there's the latest document Prepared by the Rossoneri Club Conversations with “investors from the Arab world”, which explains the Rossoneri's institutional structure. The document that leads the GdF currency police unit to finalize “that Seller loan“, that is, the loan that the seller Elliott made in 2022 to the buyer RedBird, and continues to this day.”Elliott's ownership of part of Milan is guaranteed“, reported the courier. This is because, in the scheme proposed by Milan to Al-Arab, Redbird's share (100% of Milan in the amount of 679.5 million euros as of December 31, 2023) will decrease to 58.2% (but in return for an investment that will remain unchanged) in the event that the new investor will acquire 41.7% of Milan by buying back 80% of the famous loan for $487.5 million, of which a portion of $121.9 million will remain.

Mark PIF – From the same document informs La Gazzetta dello SportOther details will appear: the name of the Arab investor, the Public Investment Fund. In the “Milan Investor Presentation”, The Public Investment Fund was mentioned as the financier who will acquire “41.7% of the shares by repurchasing 80% of the seller’s loan for $487.5 million.”. The Public Investment Fund, Saudi Arabia's sovereign wealth fund, has a net worth of $861 billion (RedBird manages $10 billion) and aims to reach $1 trillion by the end of 2025 through investments in various economic areas in the Kingdom. Moreover, in 2021, he bought the Public Investment Fund Newcastle For 350 million euros, he controls the four major clubs in the Saudi Professional League (Al-Hilal, Al-Ittihad, Al-Ahli, Al-Nassr). The stake that PIF would have taken from Elliott would have been converted into shares – a possibility that does not appear in the documents, Gazzetta noted – making the Saudi giant Milan's second-largest shareholder.

What are the risks of Milano?

The Italian Federation General Prosecutor moves – Meanwhile, always reports couriertoday is The Italian Federation Prosecutor's Office will request the documents To evaluate mathematically.