They accuse Milan’s owners of having faked the sale of the club: they could disqualify it from European cups

Milan risks an economic and sporting sanction which could fall on Serie A and exclude it from European competitions if it is confirmed that it has not legally transferred ownership of the club between the American funds Elliot Management and RedBird (its new owner).

It all started this Tuesday, when the Guardia di Finanza searched the Milan office in search of documents confirming the transfer between two investment funds, now called into question, since everything indicates that it is still the Elliot fund the one who maintains control of the team.

Elliot Management is the vulture fund managed by the well-known Paolo Singer became popular in Argentina after the famous conflict that held the ARA Libertad in the port of Ghana for a couple of months. He is the man investigated by Italian justice for the possible “fictitious sale” of Milan.

The trigger for everything would have been the appearance of an Arab millionaire group: “It seems that there are Milanese documents used to obtain investors from Arab funds. And They could be a sort of recognition of the ownership of the Elliot fund and not from the current RedBird fund”, lawyer Angelo Cascella assured EFE.

“The members of Milan’s board of directors are many of those who were on Elliot’s old board of directors. The company that deals with communications is the same. On Elliot’s board of directors there was Furlani, the current CEO of the club”, underlined Cascella. out.

“All these aspects together suggest that the sale is fictitious., be simulated. This is the beginning anyway. You have to see everything, verify everything,” she said.

The hypothesis on which the Milan Public Prosecutor’s Office (north) is working is that of a crime of “obstruction of the supervisory activity” of the Italian Football Federation (FIGC) on the legal obligations of the companies that own football teams, since there would be no correctly communicated your change of ownership.

“If Milan had lied, hiding a property that does not correspond to what it says, the club could be sanctioned either by exclusion from UEFA competitions; or by financial sanctions; or by reaching an agreement with UEFA (not sign in some window, not spending more than an agreed amount…),” lawyer Angelo Cascella, sports law expert and former member of the European Court of Arbitration for Sport (CAS), told EFE.

The Italian Football Federation, faced with another possible ‘Juve case’

“The FIGC will now open a file in which it will have to investigate and ask the Prosecutor’s Office for all the documentation, which will be used by the FIGC Prosecutor’s Office to evaluate whether there have been any wrongdoings – explained Cascella, who added that ordinary justice will follow an even more long of sports justice.

The articles of the Code of Sports Justice (CJD) that Milan could have skipped are 32.5, 20 and 4.

“The legislation provides that the main problem is the failure to comply with Article 32 and that there was a simulation of a sale of which Elliot remains the owner,” Cascella said.

“If the club (Milan) does not communicate its structure correctly, in bad faith, it receives a sanction. Financial fine and/or penalty points (Serie A),” the lawyer said.

Article 20 bis of the CJD also provides that “information on company shareholdings must be correct”, for which sporting and economic sanctions could be added.

And article 4 of the CJD, for which ‘Juve’ was sanctioned last season, talks about “loyalty and honesty”: “Every person who signs up to the CJD must be loyal and honest. ‘Juve’ has been condemned for lack of loyalty and honesty and 10 points were deducted”, Cascella recalled.

UEFA, timeshare comes into play: Elliot owns Lille

In the UEFA Code there are two key articles, 4 and 5.

The number 5 refers to timeshare, as a team cannot have two teams entered in the same competition. Lille and Milan have competed in the Europa League this season.

And number 4, even more important: procedure and admission to competitions. If Milan had lied, hiding assets that do not correspond, the club could be sanctioned or excluded from competitions; or with financial penalties; or reaching an agreement with UEFA. (do not sign in any window, do not spend more than a certain amount…)”, underlined Cascella.

Any sanctions, both from UEFA and the FIGC, will not arrive in time this season if irregularities are certified.

“The times are important and the path to follow for Milan has just begun, it will be a long process and, if there are sanctions because irregularities and criminality are demonstrated, they will be for the next electoral campaign”, commented the expert.

Furthermore, Italian ordinary justice will act alone and, when the time comes, the sanctions could be different; even be found guilty of a sporting offense and not a criminal one. EFE

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13/03/12-26/24