OFFICIAL: RedBird, new owner of AC Milan

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Gerry Cardinale’s American fund buys AC Milan for 1.2 billion euros: Elliott will retain a minority stake.

A new era has begun for AC Milan: Just days after winning their 19th Scudetto, Rossoneri changed ownership when it was taken over by RedBird, an American investment fund founded by Gerry Cardinale.

Completion in September

Milan club announced the details of the agreement between RedBird and Elliott, which will retain a minority stake as a guarantee of the continuity of the project: The economic value of the operation, which will take place at the effective closing, is 1.2 billion liras. September.

“RedBird Capital Partners (“RedBird”) and Elliott Advisors UK Limited (“Elliott”) announced today that they have reached a definitive agreement for RedBird to acquire newly crowned Serie A champions AC Milan. It will be transferred to the new owner. During the summer, it is scheduled to close in September 2022. The deal, worth €1.2 billion to the Club, allows Elliott to retain a minority financial stake in the Club and its own representatives on the Board, reinforcing a partnership between RedBird and Elliott that will continue the progress made under Elliott’s leadership over the past four years.” , AC Milan said in a press release.

Red Bird showcases its ambitions

A decisive piece of news regarding Paolo Maldini and Frederic Massara’s contracts expiring on June 30th: “RedBird’s priority is to continue to work with sports arena and club management to add continuity to Milan’s journey towards a return to the top of world football. The combination of success on the pitch, strategy Acquisition and development of new players and world-class global business management, RedBird’s international sports management Combined with his experience in leading and developing franchises, it will provide an even brighter future for Milan’s long history.”

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Desiring to leave a mark in the history of such a prestigious club, Cardinale’s enthusiastic comment is as follows: “We are honored to be a part of AC Milan’s glorious history and we are delighted to be able to write the next chapter of the club at a time when the club has regained its well-deserved position at the top of the Italian league. European and global goals are the last four to bring Milan back to the top of Serie A. I would like to thank Gordon Singer and the entire Elliott team for the tremendous work they have done over the years.RedBird’s investment philosophy and experience of sport around the world has shown that football clubs can be successful on the field while maintaining a sustainable financial profile.To push Milan even higher over the years, the club, We look forward to establishing a long-term partnership with the management and Milan fans worldwide.

Words of pride and gratitude to the people of Milan from Gordon Singer, Elliott Managing Partner: “When Elliott bought AC Milan in 2018, we took over a club with an outstanding track record but with serious financial problems and disappointing sporting performances. Our plan was simple: create financial stability and get back to the sport. European football. I think these two We can say that we have achieved the goal as well. In the transition to the next chapter of Milan’s history, I would like to express our deepest feelings of humility, pride and, above all, our gratitude for the experiences we shared. With every member of the Milan family: We could not have done anything without you, the people of Milan”.

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