The Milan has temporarily suspended from his position Aldo Savi, Financial And Administrative Director of the Rossoneri club. According to what I learned from Football and FinanceSavi will now be subjected to a disciplinary procedure and only subsequently will a possible definitive measure be reached.
Savi’s name has emerged in recent weeks as part of the investigation by the Milan Prosecutor’s Office into the sale of AC Milan. One of the main clues has come from the Administrative Director on the basis of which the Prosecutor’s Office is trying to demonstrate that Milan is not really from the fund RedBird of Gerry Cardinale, but is still under the influence of the fund Elliott of Gordon and Paul Singer, not declared to the supervisory authority Federcalcio.
The uninvestigated Rossoneri club, where the CEO since 2022 Giorgio Furlani and his predecessor 2018-2022 Ivan Gazidis are under investigation for the hypothesis of obstructing the supervisory authority, had already learned from the search decree of 12 March that the pm Polizzi and Cavalleri highlighted both the discrepancy in communications made by the RedBird fund to the American stock exchange authority Sec on its corporate chain, and an internal document within Milan which it was not clear how it ended up in the hands of the Guardia di Finanza.
It was a “presentation” of the current structure prepared by the Milan management for the talks at the end of 2023 with “investors from the Arab world”, from which, however, the indication emerged in all respects that the control of the Rossoneri club was with RedBird . This very document was a draft sent by a manager of the RedBird fund, Elizabeth Owento the administrative director of Milan, Aldo Savi: and it was Savi, called as a witness by the investigators, who gave a problematic interpretation of the Rossoneri’s ownership.
Savi joined Milan in 2018 as a consultant for the Blue Skye fund, the company of Salvatore Cerchione and Gianluca D’Avanzo from whose complaint the investigation into the sale of Milan began and which started a series of disputes – defined several times «frivolous and vexatious» by Elliott –, from which, as told by Football and Financeup until now it has always emerged defeated.
The Italian ones are just some of the lawsuits initiated by Blue Skye in recent months, to which the Elliott fund responded in September 2023 with a private criminal indictment, called “citation directe”, in Luxembourg. With this act, the US fund accused Blue Skye Financial Partners and its representatives of crimes including blackmail, extortion And fraudulent misrepresentations in support of his legal actions against the sale.
According to what emerges from the documents, according to Elliott Blue Skye formulated slanderous accusations and defamatory in order to obtain concessions in excess of its contractual rights. According to the fund’s accusations, these amount to blackmail and extortion crimes. Furthermore, again according to the US fund, Blue Skye would have made the deposit knowingly misleading documents initiating proceedings with the intention of deceiving the Luxembourg courts in order to obtain a decision in his favor.
A decision that – according to Elliott – he would not have obtained otherwise. The documents also reveal allegations of breaches of fiduciary duties towards Giovanni Caslini (formerly on the board of Rossoneri Sport Investment, a vehicle that controlled Milan and whose 100% was in turn controlled by Project Redblack, of which 4.27% was in the hands of Blue Skye) and towards the managing partners of Blue Sky, Salvatore Cerchione And Gianluca D’Avanzo.
Returning to Savi, hired by Milan in 2019, the manager remained there even after the rift between Blue Skye and the rest of the Milan world. And it 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 Masi, that Savi, once consulted by the GdF on the draft for the Arab tour of the Rossoneri managers, has defined «strange» because in his opinion it offered potential buyers the possibility of selling a portion of RedBird’s debt to Elliott.
Furthermore, Savi – who now risks being removed from Milan – reported to the investigators his impression that the daily management of Milan still weighs heavily on “strong influence» by Elliott, also through the head of the sports area Hendrik Almstadtfor Savi «very close collaborator of Gordon Singer».
