Legal Battles Surrounding AC Milan's Sale Intensify

The distance clash between Elliot and Blue Skye regarding the sale of Milan to RedBird, the American company managed by Gerry Cardinale, continues. On Thursday, the Civil Court of Milan rejected the third and final dispute initiated by the company of Salvatore Cerchione and Gianluca D’Avanzo against the American fund in Italy. This marks the third case out of three lost by Blue Skye in Italy, with a sentence to pay the legal costs. Blue Skye - which was a partner of Elliott with 4.27% of Project RedBlack, the company that controlled 100% of Rossoneri Sport Investment and which in turn controlled Milan - to date, has not succeeded in any of the cases initiated and concluded. In total, Blue Skye has initiated as many as 11 disputes in these last months between Luxembourg, Italy, and the United States. From one of these reports, the investigation by the Milan Prosecutor's Office on the sale of Milan started, with consequent searches by the Guardia di Finanza at the club's headquarters, Casa Milan, and the opening of investigations against the company's CEO Giorgio Furlani and the former CEO Ivan Gazidis. As highlighted by Calcio e Finanza, the first hearing of the private criminal accusation (called 'citation directe' in Luxembourg) initiated by Elliott against Blue Skye in September 2023 is expected shortly. The American fund has accused Blue Skye Financial Partners and its representatives of crimes including blackmail, extortion, and fraudulent false testimony in support of its legal actions against the sale of Milan.