On Wednesday, AC Milan announced that they had reached an agreement to transfer ownership from the Elliot investment fund to another American side, Redbird, days after they returned to the top of the Italian football league, becoming champions for the first time since. 2011.
The Lombard club said in a statement that the two funds had reached a “final agreement to acquire Milan’s Redbird” in a deal worth “one billion 200 million euros” to be completed by “September 2022” at the latest. The club added that Elliot Management, which acquired the club in 2018 at the end of the era of former owner Silvio Berlusconi (1986-2017), “will retain a small financial stake and representatives on the board of directors.”
Redbird Capital Partners has a particularly active presence in the sports marketing sector in North America and in the summer of 2020 acquired an 85% stake in Toulouse, who will return to Ligue 1 next season.
His boss, Italian-American businessman Jerry Cardinale, was also involved in business deals with many American sports organizations, in particular by acquiring stakes in the New York Yankees and Boston Red Sox baseball clubs.
“Redbird’s investment philosophy and club ownership experience has shown that football clubs can be successful on and off the pitch,” the club said in a statement. Nearly half of the clubs in the Italian league are foreign-owned, and most of them are owned by North America, with the exception of Inter, which is owned by China’s Suning Group. Aside from Milan’s brand image, the Redbird acquisition is significant to the new stadium project for the two Milan clubs after they announced their plan to build a joint ‘cathedral’ and demolish the historic San Siro stadium, which will stand until at least 2026. of the year.
Briefly about Milan
Further, in the lines of the Italian club AC Milan, which announced on Wednesday the transfer of ownership from the American investment fund Elliott to another American fund, Redbird:
Founded: December 16, 1899
Owner: Redbird Capital Partners (effective September 2022)
President: Paolo Scaroni
Honorary Vice President: Franco Baresi
CEO: Ivan Gazidis
Sports director: Paolo Maldini
Coach: Stefano Pioli (since October 2019)
Captain: Alessio Romagnoli
Stadium: Giuseppe Meazza San Siro (80,000 spectators)
Shirts: red and black stripes
Turnover 2020-2021: 261 million euros
magazine:
UEFA Champions League: 7 (1963, 1969, 1989, 1990, 1994, 2003, 2007)
Cup Winners’ Cup: 2 (1968, 1973)
European Super Cup: 5 (1989, 1990, 1994, 2003, 2007)
Club World Cup: 1 (2007)
Serie A: 19
Italian Cup: 5 (1967, 1972, 1973, 1977, 2003)
Italian Super Cup: 7 (1988, 1992, 1993, 1994, 2004, 2011, 2016)
2021-2022 season squad (players who have played at least one league game)
Goalkeepers: Frenchman Mike Minyan, Romanian Tsiprian Tatarosanu.
Defenders: Senegal, Fodi Ballou-Ture, Davide Calabria, Alessandro Florenzi, Mathieu Gabbia, French Theo Hernandez, French Pierre Kalulu, Alessio Romagnoli, Luca Stanga, Simon Kjær (Denmark), Fikayo Tomori (England).
Midfield: Frenchman Tiemoue Bakayoko, Algerian Ismail Bennacer, Spaniard Samuel Castillejo, Spaniard Ibrahim Giass, Côte d’Ivoire Frank Kessir, Bosnian Radi Krunic, Belgian Aleksei Salmaekers, Sandro Tonali.
Forwards: Olivier Giroud of France, Zlatan Ibrahimovic of Sweden, Rafael Leao of Portugal, Daniel Maldini, Junior Messias of Brazil, Ante Rebic of Croatia.
