It comes as a surprise from the account man inside Milan – administrative director Aldo Savi — one of the main clues on which the Milan Prosecutor’s Office based for weeks he has been speculating that Milan is not really from Gerry Cardinale’s RedBird fund (purchaser on 31 August 2022 for 1.2 billion, half of which was lent to him by the seller Elliott through the issue of financial products, the “vendor loan”), but is still under the influence of Gordon and Paul Singer’s Elliott fund, not declared to the Federcalcio supervisory authority.
The uninvestigated Rossoneri club, where instead they are under investigation for the hypothesis of obstructing the supervisory authority the CEO since 2022 Giorgio Furlani and the predecessor 2018-2022 Ivan Gazidis, had already learned from the search decree of March 12 that prosecutors Polizzi and Cavalleri valorized both the discrepancy in communications made by the RedBird fund to the American Stock Exchange authority Sec on its corporate chain, such as to seem to “show that the majority of the capital used for the sale of Milan” (around 400 million out of the 600 paid in cash) “comes from a corporate vehicle not attributable” to RedBird, a fund placed in the Netherlands; both an internal document within Milan which it was not clear how it ended up in the hands of the Guardia di Finanza, a “presentation” of the current structure prepared by the Milan management for talks at the end of 2023 with “investors from the Arab world”, whose scheme made investigators think “that the vendor loan”, i.e. the controversial loan made in 2022 by the seller Elliott to the buyer RedBird, still “guarantees Elliott the ownership of part of Milan”.
Now it turns out that this document was a draft sent by a manager of the RedBird fund, Elizabeth Owen, to the administrative director of Milan, Aldo Savi: and that it was Savi, summoned as a witness by the investigators, who gave a problematic interpretation of the real owned by the Rossoneri.
In fact, there are still managers close to Elliott in Milan (starting with Furlani and president Paolo Scaroni), Savi had instead joined Milan in 2018 as a consultant for the Blue Skye fund, and, hired by Milan in 2019, he remained there even after the rift between Blue Skye and the rest of the Milan world.
And he is like today’s administrative director of the Rossoneri, man of the club’s accounts and right-hand man of the financial director Stefano Cocirio and of the commercial director Roberto Masithat Savi, once consulted by the GdF on the draft for the Arab tour of the Rossoneri managershe called it “strange» because in his opinion he proposed to potential buyers not the possible sale of Milan shares held by RedBird, but the sale of a portion of RedBird’s debt to Elliott, without apparently having consulted Elliott.
Furthermore, Savi reported to the investigators his impression that it still weighs on the daily management of Milan Elliott’s “strong influence”. through not only former Elliott men such as Scaroni, Furlani and Cocirio, but also as the head of the sports area Hendrik Almstadt, for Savi “a very close collaborator of Gordon Singer”, and Elliott’s spokesperson in Italy, Marcella Verini, today also of RedBird.
