<\/p>\n
AC Milan said Wednesday that investment fund RedBird had completed the acquisition of the Italian champions from rival US group Elliott Management for \u20ac1.2 billion.<\/p>\n
Serie A giants Milan said in their statement that Major League Baseball giants, the New York Yankees, will also have a \u201cminority equity stake\u201d in Milan, who won their first Serie A title in 11 years last season, through their owners Yankee Global Enterprises.<\/p>\n
\u201cWe will support our talented players, coaches and staff to deliver success on the pitch,\u201d said RedBird\u2019s founder Gerry Cardinale in the statement.<\/p>\n
\u201cWe will look to leverage our global sports and media network, our analytics expertise, our track record in sports stadium developments and hospitality to deliver one goal \u2014 maintaining Milan\u2019s place at the summit of European and world football.\u201d<\/p>\n
RedBird\u2019s purchase of Milan comes after they bought a minority stake last year in Fenway Sports Group, the owners of Liverpool and MLB team Boston Red Sox and a majority stake in French Ligue 1 club Toulouse in 2020.<\/p>\n
Milan, Onyedika agree personal terms
Elliott acquired Milan in 2018 when Chinese businessman Li Yonghong was unable to repay a loan he had taken out when he bought the club from Silvio Berlusconi\u2019s Fininvest in 2017.<\/p>\n
Italy\u2019s former prime minister Berlusconi had owned the club since 1986 and in the intervening three decades had made Milan a global football powerhouse, crowned European champions five times between 1989 and 2007.<\/p>\n
Milan had been dogged by financial problems and sub-standard performances on the pitch after winning the league in 2011, a second-place finish in 2021 announcing their return as a challenger for trophies.<\/p>\n
They declared losses for that season of 96 million euros, down from a deficit of 195 million euros in 2020. Accounts for last season are yet to be published.<\/p>\n
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AC Milan said Wednesday that investment fund RedBird had completed the acquisition of the Italian champions from rival US group Elliott Management for \u20ac1.2 billion. Serie A giants Milan said in their statement that Major League Baseball giants, the New York Yankees, will also have a \u201cminority equity stake\u201d in Milan, who won their first […]<\/p>\n","protected":false},"author":1,"featured_media":1196179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[24914,1623,1353,913,5673,7698],"class_list":{"0":"post-1196175","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sports","8":"tag-1-2bn","9":"tag-completes","10":"tag-fund","11":"tag-investment","12":"tag-milan","13":"tag-takeover"},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1196175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1196175"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1196175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1196175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1196175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1196175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}