REDBIRD COMPLETES THE ACQUISITION.  Partnership with Yankee Global Enterprises

REDBIRD COMPLETES THE ACQUISITION. Partnership with Yankee Global Enterprises

REDBIRD COMPLETES THE ACQUISITION.  Partnership with Yankee Global Enterprises

Now it’s all official, the closing is black and white: RedBird Capital Partners has completed the acquisition of AC Milan from Elliott and the entry of Yankee Global Enterprises is also announced in the press release (owner of New York Yankeesin a strategic partnership and also the purchase of a minority stake.

THE COMMUNICATION – RedBird Capital Partners (“RedBird”) announced today that it has completed the acquisition of the Milan Football Association (“AC Milan”, “Milan” or the “Club”) for 1.2 billion euros.

For 123 years, Milan has been synonymous with football at the highest level. Since its foundation in 1899, AC Milan has been crowned Italian Champion 19 times and has won 7 European Cups / Champions League, 7 Italian Super Cups, 5 Italian Cups, 5 European Super Cups, 3 Intercontinental Cups, 2 Cup Winners’ Cups, and 1 FIFA Club World Cup.

As the new owner of AC Milan, RedBird will continue to invest in all key areas for the promotion of the Club’s sporting and commercial interests, based on the results achieved last season, culminating in the victory of the Serie A championship. RedBird’s expertise in managing and building global sporting activities will ensure that the current momentum takes further vigor in the next chapter of AC Milan’s legendary history.

The areas of interest including priority support to the work of the Club’s sporting and corporate leadership to ensure that the team is consistently competitive at the highest levels of football; to ensure that it can count on infrastructures and structures that match up to one of the most important sports organizations in the world; strengthen the Club’s women’s and youth teams, and the Milan Foundation, the Club’s institution dedicated to projects in support of the most fragile categories.

Gerry CardinalFounder and Managing Partner of RedBird, said: “Our vision for AC Milan is clear: we will support our talented players, coaches and staff in their efforts to achieve success on the pitch and to allow our fans to share the extraordinary experiences of this historic club. We will make sure to leverage our global sports and media network, our experience in data collection and analysis, our track record in developing stadiums and hospitality to achieve one goal: to keep AC Milan at the top of the European and world football “.

The agreement will also see Yankee Global Enterprises (YGE) – owner of the New York Yankees, one of the most important sports franchises in the world – enter into a strategic partnership with the Club with a minority stake in AC Milan. RedBird has a longstanding relationship with the Yankees and the Steinbrenner family, with whom he co-owns the Yankees Entertainment Sports (YES) Network, the most followed regional sports network in the United States.

On the partnership with YGE, the Cardinal said, “We have a decades-long relationship with the New York Yankees and the Steinbrenner family that has led to the creation of some of the most successful businesses in sports, entertainment and hospitality. We are that our partnership with them continues and we will try to explore together the opportunities to expand our ability to reach the largest possible number of fans and expand the commercial opportunities accessible only to companies operating at the highest levels of world sport. “

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

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