Italian champions AC Milan change hands from September. American Redford Capital Partners has acquired the club for 1. 1.2 billion from Elliott Management, another US investment fund controlling Milan from 2018 onwards.
Redford president Jerry Cardinal has announced his acquisition of the Italian champion. “We are proud to be a part of Milan’s glorious history and look forward to participating in the club’s next chapter on our way back to Italian, European and world standards.” Gordon Singer, the current owner of Milan, a minority partner, also issued a statement. “When we took over the club in 2018, we got Milan with an incredible history, but big financial problems and bad game results. But in those four years we brought the club back to the Italian peak, Milan is healthy again. Allow us to share with every member of the AC Milan family We would like to thank everyone for this excellent experience provided.
For a long time, however, the club did not seem to fall into (new) American hands, but in Bahrain. Investment firm InvestCorp has been in talks with Elliott for months about acquiring more than a billion euros, but in the end it turns out that this is not going to go away.
Elliott Management bought the Milan club in 2018 and its then-owner, Chinese businessman Li Yonghong, was unable to repay the loan. Until 2017, Silvio Berlusconi was the owner of AC Milan. The Red Devils Alexis Salemakers Club was recently crowned champions of Italy for the nineteenth time.
Redford president Jerry Cardinal has announced his acquisition of the Italian champion. “We are proud to be a part of Milan’s glorious history and look forward to participating in the club’s next chapter on our way back to Italian, European and world standards.” Gordon Singer, the current owner of Milan, a minority partner, also issued a statement. “When we took over the club in 2018, we got Milan with an incredible history, but big financial problems and bad game results. But in those four years we brought the club back to the Italian peak, Milan is healthy again. AC Milan is allowed to share this with every member of the family. We would like to thank everyone for the wonderful experience in investing in InvestCorp for over ஒரு 1 billion, after months of negotiations with Elliott, but Yong Hong’s failed to repay the loan. Was crowned champion of Italy for the nineteenth time.
