RedBird Capital Partners reveals new agreement with Elliot Advisors to obtain AC Milan
Redbird Capital Partners (“RedBird”) has revealed their new agreement with Elliot Advisors UK Limited (“Elliot”) for Redbird to obtain the champions of Serie A, Associazione Calcio Milan (“AC Milan”).
RedBird is a private investment firm that strives to build high-growth companies and hence was particularly interested in AC Milan.
Elliot will continue to have some financial interest in AC Milan and acquire minor seats on the Board of Directors, as we see Redbird continue to build on its previous success of Elliot. The new deal values AC Milan at 1.2B (USD), with the switch of ownership hoping to be wrapped up by September 2022.
RedBird’s vision and aim for AC Milan are to continue the success of the sporting club and management, as they lead the world of football. Redbird’s previous success in building global sports businesses will see AC Milan accelerate even further to victory.
Founder and managing partner of Redbird, Gerry Cardinale, announced: “We are excited to play a role in the Club’s next chapter as it returns to its rightful place at the very top of Italian, European and world football.”
“RedBird’s investment philosophy and track record in team ownership has shown that football clubs can be successful on the pitch and sustainable off it – we are looking forward to a long-term partnership with the club,” he added.
Managing partner for Elliot, Gordon Singer, commented: “When Elliott acquired AC Milan in 2018… our plan was simple: to create financial stability and to return AC Milan to where it belongs in European football. Today, I believe we have accomplished both.
“I want to express our deepest sense of humility, pride and above all gratitude for the experiences we have shared with each member of the AC Milan family.”
Read more with Managing partner for Elliot, Gordon Singer, comments in his letter here to fans” “We believe that RedBird is the perfectly positioned to carry forward our shared vision.”