Milan sold, RedBird is new owner

It’s official. Milan changes ownership. “RedBird Capital Partners and Elliott Advisors UK Limited – reads the note – announced today that they have signed a definitive agreement for the acquisition by RedBird” of Milan “. The transfer to the new ownership will take place during the summer, with the closing expected by September 2022 “.

“The agreement, which values ​​the Club 1.2 billion euros, – continues the note – provides that Elliott will maintain a minority financial stake, as well as its own representatives on the board of directors, thus consolidating a partnership between RedBird and Elliott that will give continuity to progress made under Elliott’s leadership in the past four years. ” Then in the statement from the Rossoneri club the ambitions of the new ownership are explained. “The priority for RedBird is to continue the work with the sports area and the management of the Club to give continuity to the path of Milan, aiming for a return to the top of world football. The combination of successes on the pitch – it reads – strategy of purchase and development of new players and global commercial management of the highest level, combined with RedBird’s experience in leading and developing international sports franchises will guarantee an even brighter future for the legendary history of AC Milan. ”

Source: Ansa

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