AC Milan confirm that RedBird have acquired the club from Elliott Management

AC Milan have introduced that Elliott Administration have reached an settlement with RedBird Capital Companions for the sale of the membership for €1.2 billion.

The 2 events had been in talks for plenty of weeks earlier than an settlement was reached, with a number of different events being linked with a possible buy of the Serie A champions.

“RedBird’s precedence is to work with the membership’s title-winning sporting and membership administration crew to proceed Milan’s journey again to the summit of world soccer,” learn a press launch issued by the Rossoneri on Wednesday.

“A mixture of a profitable crew on the pitch, Milan’s participant growth and acquisition experience, a world-class industrial operation, and RedBird’s expertise in working and constructing world sports activities companies, will be sure that the subsequent chapter in Milan’s storied historical past will take the Rossoneri to even higher heights.”

RedBird’s founder and managing companion Gerry Cardinale additionally commented, stating his and the group’s ambitions for the membership.

“We’re honoured to be part of AC Milan’s illustrious historical past and are excited to play a job within the membership’s subsequent chapter because it returns to its rightful place on the very prime of Italian, European and world soccer,” Cardinale stated.

“I need to thank Gordon Singer and all the Elliott crew for the large work they’ve carried out during the last 4 years in rebuilding Milan and returning it to its rightful place on the prime of Serie A.

“RedBird’s funding philosophy and observe report in crew possession has proven that soccer golf equipment may be profitable on the pitch and sustainable off it – we’re trying ahead to a long run partnership with the membership, its administration crew and Milanisti world wide to maintain propelling Milan within the years to come back.”

AC Milan had been topped Italian champions in 2021/22 for the primary time in 11 years, dethroning Derby della Madonnina rivals Inter.