AC Milan said Wednesday that investment fund RedBird had completed the acquisition of the Italian champions from rival US group Elliott Management for 1.2 billion euros . Serie A outfit Milan said in their statement that Major League Baseball giants the New York Yankees will also have a "minority equity stake" in Milan, who…
Serie A outfit Milan said in their statement that Major League Baseball giants the New York Yankees will also have a “minority equity stake” in Milan, who won their first league title in 11 years last season, through their owners Yankee Global Enterprises. 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.
Elliott acquired Milan in 2018 when Chinese businessman Li Yonghong was unable to repay a loan he had taken out when he bought the club from Silvio Berlusconi’s Fininvest in 2017. They declared losses for that season of 96 million euros, down from a deficit of 195 million euros in 2020. Accounts for last season are yet to be published.
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