US investment fund RedBird completes €1.2 billion AC Milan takeover

📆 2022/09/01 4:22:00
📰 NigeriaNewsdesk

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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 ($1.3 billion).

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.

“We will support our talented players, coaches and staff to deliver success on the pitch,” said RedBird’s founder Gerry Cardinale in the statement. “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’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.

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AC Milan: US investment fund completes €1.2bn takeoverAC 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. Okay
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