Lhe American fund RedBird has completed the acquisition of AC Milan for 1.2 billion euros, the Italian club announced on Wednesday, owned since 2018 by Elliott Management, another American fund. “RedBird Capital Partners announced today that it has completed the acquisition of Associazione Calcio Milan for 1.2 billion euros”, announced the club with seven Champions League victories (Italian record), crowned in May for the 19e time in its history champion of Italy.
As the new owner of AC Milan, RedBird will continue to invest in all key areas for the promotion of the sporting and commercial interests of the club. In its press release, the football club lists the priorities for the future: maintaining the infrastructures and installations “which correspond to one of the largest sports organizations in the world”, strengthening the women’s teams and the teams of the youngest, developing the Milan Foundation , the institution dedicated to the most vulnerable…
Following the announcement, RedBird Founder and Co-Director Gerry Cardinale said: “Our vision for Milan is clear: we will support our talented players, coaches and staff in their efforts to achieve success on the pitch and enable our fans to share extraordinary experiences of this historic club. We will ensure that we leverage our global sports and media network, our expertise in data collection and analysis, our experience in stadium development and hospitality to achieve one goal: to keep Milan at the top. European and world football. »
RedBird, a heavyweight in the sports field
The sale of this jewel of the calcio, long held by the businessman and former President of the Italian Council Silvio Berlusconi (1986-2017), was concluded on 1is June with Elliot Management. RedBird is present in the sports world in North America, but is also already active in Europe, through a minority stake in the English club Liverpool, but also with control since 2020 of Toulouse, promoted to Ligue 1.
He is also associated with a Californian fund, Main Street Advisors, headed by businessman Paul Wachter, and counting basketball star LeBron James, music producer Jimmy Iovine and rapper Drake among his own associates. This operation confirms the attractiveness of Italian football in the eyes of North American investors: more than a third of Serie A clubs were American or Canadian owned last season (AS Roma, Bologna, Fiorentina, Venice, La Spezia, Genoa and partly Atalanta Bergamo).
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