RedBird completed the takeover of the club from fellow American investor Elliott Management in a deal valued at €1.2 billion, according to a statement on the club’s official website.
Associazione Calcio Milan was successfully purchased by RedBird Capital Partners (“RedBird”) for €1.2 billion on Wednesday.
They now take over a squad that has won 19 Serie A championships since its foundation in 1899.
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Additionally, AC Milan has won 7 Champions Leagues/European Cups, 7 Supercoppa Italianas, 5 Coppa Italias, 5 European Super Cups, 3 Intercontinental Cups, 2 European Cup Winners’ Cups, and 1 FIFA Club World Cup.
Building on the successes of the previous campaign which culminated in the club’s Serie A championship, RedBird as the new owner of AC Milan, will continue to invest in all the crucial areas that will promote the Club’s sports and business interests.
Because of RedBird’s background running and developing international sports businesses, the next chapter in the illustrious history of AC Milan will undoubtedly grow on its current momentum.
Supporting the club’s business and sporting leadership is a top priority, as is making sure it has the infrastructure and facilities necessary to compete at the highest levels of football, as well as bolstering the club’s women’s and youth teams and its charitable arm, Fondazione Milan.
RedBird’s founder and managing partner, Gerry Cardinale, said:“Our vision for Milan is clear.”
“we will support our talented players, coaches and staff to deliver success on the pitch and allow our fans to share in the extraordinary experiences of this historic club.”
“We will look to leverage our global sports and media network, our analytics expertise, our track record in sports stadium developments and hospitality to deliver one goal – maintaining Milan’s place at the summit of European and world football.”
Additionally, as part of the agreement, Yankee Global Enterprises (YGE), owner of the New York Yankees, one of the most valuable sports franchises in the world will partner with the team and own a modest equity share in AC Milan.
The Yankees Entertainment Sports (YES) Network, the most popular regional sports network in the country is co-owned by RedBird and the Steinbrenner family, with whom it has a long-standing partnership.
Mr. Cardinale commented on the collaboration with YGE as follows: “We have a multi-decade relationship with the New York Yankees and the Steinbrenner family that has resulted in the creation of some of the most successful businesses in sports, entertainment and hospitality.
“We are very pleased to continue our partnership with them and will look to explore opportunities together to broaden our fan reach and expand commercial opportunities that are only available to franchises that operate at the highest levels of sports globally.”
With the completion of the Milan acquisition, RedBird’s assets under management will total roughly $7.5 billion.
AC Milan will be added to RedBird’s portfolio of international sports and entertainment investments, which already includes Toulouse FC, the Rajasthan Royals, the YES Network, the SpringHill Company, Skydance Media, the XFL, OneTeam Partners, and Dream Sports.
