It’s been in the business for a while.
Now the acquisition is official:
New York-based RedBird Capital Partners buys Italian soccer club AC Milan for 13 billion Swedish kronor.
AC Milan was owned for more than 30 years by media mogul and former Italian Prime Minister Silvio Berlusconi.
In the spring of 2017, the club was sold to Chinese businessman Yonghong Li with the help of a loan from the American investment fund Elliott Management. When Lee could not repay the loan, Elliott Management acquired the club.
Now a new master owner is stepping in.
cost 13 billion
On his site confirms AC Milan New York-based RedBird Capital Partners is buying the majority of the club at a cost equivalent to SEK 13 billion.
“Our vision for Milan is clear: we will support all talented players, managers and staff in the pursuit of success and ensure that fans are part of the journey of this storied club. We will also draw on our global sports and media network, analytical expertise and proven track record in stadium development to ensure Milan maintains its place at the pinnacle of world football. “.As RedBird founder Jerry Cardinal says.
Powered by LeBron James
RedBird already owns shares in Fenway Sports Group, which in turn owns shares in Premier League giants Liverpool, baseball team Boston Red Sox and hockey team Pittsburgh Penguins.
One of the main investors in Fenway Sports Group is basketball icon LeBron James, who over the years has poured a lot of money into the company.
