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  • Sports - Football - Transfers
  • Updated: June 01, 2022

RedBird Completes Successful €1.2 Billion Take Over Of AC Milan

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Oladimeji Balogun
Oladimeji Balogun

Oladimeji Balogun is a graduate of the University of Ilorin where he studied Microbiology, he is a w...

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Serie A side AC Milan have officially confirmed that RedBird Capital has completed the takeover of the club after Elliott Management decided to sell the majority of their shares.

The club announced the highly-anticipated deal on Twitter and their website on Wednesday morning.

The statement says that the transition to the new owner will take place over the summer with an expected closing date of no later than September 2022.

The statement from Milan also confirmed that the deal comes to €1.2 billion and will see Elliott retain a minority financial interest in the club going forward. They will also hold seats on the Board of Directors.

The overall aim of the deal is for Elliott and RedBird Capital to continue the progress that has been made over the past four years whilst Elliott have been the owners.

The stated aim by RedBird is of course to restore Milan back to the top of world football as they explain in the statement.

“RedBird’s priority is to work with the Club’s title-winning sporting and club management team to continue Milan’s journey back to the summit of world football.

“A combination of a successful team on the pitch, Milan’s player development and acquisition expertise, a world-class commercial operation, and RedBird’s experience in operating and building global sports businesses, will ensure that the next chapter in Milan’s storied history will take the Rossoneri to even greater heights.

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Oladimeji Balogun
Oladimeji Balogun

Oladimeji Balogun is a graduate of the University of Ilorin where he studied Microbiology, he is a w...

More From this Author

Serie A 2021/2022 TABLE

Serie A
No Teams P Pts
1 AC Milan 38 86
2 Inter Milan 38 84
3 Napoli 38 79
4 Juventus 38 70
5 Lazio 38 64
Full Table

SPORTS SPOTLIGHT

AC Milan
AC Milan

Associazione Calcio Milan commonly referred to as A.C. Milan or simply Milan is a professional football club in Milan, Italy, founde...

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Nov 25, 2020

2023 Presidency: Would you vote for APC again in 2023?

2023 Presidency: Would you vote for APC again in 2023?

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