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Daily Mirror

Sport

Alan Smith

AC Milan’s £1bn takeover subject of ‘embezzlement’ investigation

Milan AC Milan Liverpool Gerry Cardinale RedBird Capital Serie A

Italian prosecutors are looking into an allegation of embezzlement around last summer's £1bn takeover of AC Milan.

An initial complaint was brought by Blue Skye, a Luxembourg-based investment firm with minority stake in the club, against former owners Elliott Investment Management. Blue Skye allege that there was financial misappropriation during last summer's sale of the Serie A giants to the RedBird Capital investment firm that also owns a stake in Liverpool.

The Guardia di Finanza’s special currency unit are now looking into the matter and acquiring documents relating to the takeover. Italy's tax police said that no individuals have been named in connection with the investigation.

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