There’s major news in Italian football as the AC Milan sale is completed. RedBird Capital Partners has entered into an agreement with Elliott Advisors to acquire the club, according to the club itself.
The deal values the club at €1.2 billion. Elliott, however, retains a minority financial interest in the club. This, of course, is still big news. Elliott was responsible for the quick rise of Milan after taking the club over from Li Yonghong in 2018.
AC Milan Sale Indicates More Future Success
What Was Said
According to the club, RedBird’s priority is to work closely with Milan to continue the club’s return to the top of world football.
“We are honoured to be a part of AC Milan’s illustrious history and are excited to play a role in the club’s next chapter as it returns to its rightful place at the very top of Italian, European, and world football,” said Gerry Cardinale, the RedBird founder.
“RedBird’s investment philosophy and track record in team ownership has shown that football clubs can be successful on the pitch and sustainable off it – we are looking forward to a long term partnership with the club, its management team and Milanisti around the world to keep propelling Milan in the years to come.”
Elliott Management Partner Gordon Singer also left kind words to the club and the fans.
“As we make this remarkable transition to AC Milan’s next chapter, I want to express our deepest sense of humility, pride and above all gratitude for the experiences we have shared with each member of the AC Milan family: We could not have done any of this without you, Il Popolo Milanista,” said Singer.
Milan are in good hands. RedBird and Elliott both hold plenty of experience and success in this sector. The club is also currently busy making deals. They remain hungry after winning Serie A. The Rossoneri are slowly but surely making their way back into the upper echelons of football.
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