MILAN, Aug 31 — AC Milan said today that investment fund RedBird had completed the acquisition of the Italian champions from rival US group Elliott Management for €1.2 billion .
“We will support our talented players, coaches and staff to deliver success on the pitch,” said RedBird’s founder Gerry Cardinale in the statement. RedBird’s purchase of Milan comes after they bought a minority stake last year in Fenway Sports Group, the owners of Liverpool and MLB team Boston Red Sox and a majority stake in French Ligue 1 club Toulouse in 2020.
Italy’s former prime minister Berlusconi had owned the club since 1986 and in the intervening three decades had made Milan a global football powerhouse, crowned European champions five times between 1989 and 2007.