June 14, 2024

Milan conducts official sale of a fund in North America for 1.2 billion euros | italian football

2 min read
Milan conducts official sale of a fund in North America for 1.2 billion euros |  italian football

It’s official! The contract was signed last Tuesday, Wednesday morning, and Milan He announced the sale to North American investment fund RedBird Capital Partners, for 1.2 billion euros (about 6 billion R$).

Club director since 2018, Elliott Management Corporation will continue to benefit the minority. The two groups thus announce a partnership that will continue the recent progress that has led to this Milan to restore Italian Championship 11 years later. The transition takes place in September, three months after the contract is signed.

RedBird’s priority is to continue working with the sports district and club management to continue the path of MilanWith the goal of returning to the top of world football. The combination of on-the-ground successes, the acquisition of new players, a world-class global business development and management strategy, combined with RedBird’s expertise in leading and developing international sports franchises, will ensure a brighter future for AC’s legendary history. Milan‘ said the new owners Milanin an official statement.

RedBird Capital Partners manages approximately $4.5 billion in capital and is an investor in Fenway Sports Group, which runs Liverpool, and also owns a stake in Toulouse, which recently won its return to the French first division.

The fund also owns stakes in Boston Red Socks (baseball), Pittsburg Penguins (ice hockey) and Dream Sport (a sports platform in India that specializes in cricket). The founder and managing partner of the American group, Jerry Cardinale, commented on the acquisition.

– We are honored to be a part of AC’s illustrious history Milan “We are excited about the possibility that we will be able to write the next chapter for the club once it returns to its deserved position at the top of Serie A with a focus on future goals at European and global levels,” Cardinale said.

Jerry Cardinale is founder and managing partner of RedBird, the new owners of Milan – Image: Reproduction

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