AC Milan Is Officially Acquired by RedBird Capital for €1.2 Billion

AC Milan have officially announced on their website the acquisition of the club by American fund RedBird. The official statement reads:

RedBird Capital Partners (“RedBird”) today announced that it has completed the acquisition of Associazione Calcio Milan (“AC Milan”, “Milan” or the “club”) for €1.2 billion.

For one hundred and twenty three years AC Milan has been synonymous with championship level football. Since its founding in 1899, AC Milan has won 19 Serie A Championships, 7 Champions Leagues/European Cups, 7 Supercoppa Italianas, 5 Coppa Italias, 5 European Super Cups, 3 Intercontinental Cups, 2 European Cup Winners’ Cups, and 1 FIFA Club World Cup.

As the new owner of AC Milan, RedBird will continue to invest in all the key areas that will advance the Club’s sporting and commercial interests, building on last season’s achievements that culminated in the club’s Serie A championship. RedBird’s experience in operating and building global sports businesses will ensure that the next chapter in AC Milan’s storied history will build on its current momentum.

Priority areas of focus include supporting the club’s sporting and business leadership to ensure that the team is consistently competitive at the highest levels of football; ensuring that it has the infrastructure and facilities befitting one of the world’s most prominent sporting organisations; and strengthening the Club’s women’s and youth teams, as well as its charitable arm, Fondazione Milan.

The deal will also see Yankee Global Enterprises (YGE), owner of the New York Yankees, one of the world’s most valuable sports franchises, enter into a strategic partnership with the club with a minority equity stake in AC Milan. RedBird has a longstanding relationship with the Yankees and the Steinbrenner family, with whom it is a co-owner of the Yankees Entertainment Sports (YES) Network, the most-watched regional sports network in the United States.

The completion of the purchase of Milan takes RedBird’s assets under management to approximately $7.5 billion and adds AC Milan to RedBird’s portfolio of global sports and entertainment investments that include Fenway Sports Group (Liverpool FC, Boston Red Sox, Pittsburgh Penguins), Toulouse FC, the Rajasthan Royals, the YES Network, the SpringHill Company, Skydance Media, the XFL, OneTeam Partners and Dream Sports.