September 01, (THEWILL) – RedBird Capital Partners has declared that their takeover of Serie A champions, AC Milan, is now complete.
In June, THEWILL reported that a deal was made to sell Milan, with previous owners, Elliott, agreeing to do business for €1.2bn, while keeping a minority stake in the organisation. As part of a strategic alliance with RedBird, Yankee Global Enterprises, owner of the New York Yankees, also acquired a small share.
Gerry Cardinale, the founder of RedBird, 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.”
RedBird has promised to continue funding the club’s infrastructure and facilities, not just the first team, but also the women’s and junior teams, as well as Fondanzione Milan, the club’s charitable organisation.
About the Author
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
