LeBron James will be one of the new owners of Milan of Italy

LeBron James, new owner of AC Milan (Mandatory Credit: David Richard-USA TODAY Sports) (David Richard/)

In the last hours, AC Milan reported that the US investment fund Red Bird Capital acquired for more than 1,300 million dollars a percentage greater than 70% of its property to the British group Elliott Management Corp.. American basketball player LeBron James will be one of the new shareholders of the Italian soccer entity.

James owns owns 10% of the shares of the Fenway Sports Group, a firm that encompasses some franchises in different sports such as the Boston Red Sox of the MLB, the Pittsburgh Penguins of the NHL, the Toulouse club of Ligue 1 in France and Liverpool of the English Premier League. At the same time, RedBird Capital owns 10% of Fenway shares: That’s where LeBron’s link arises.

The definitive landing of the American firm is in process and has already been announced through social networks. At most, the change will end in the month of December for the millionaire figure mentioned above.

“We are honored to be a part of AC Milan’s illustrious history and are excited to play a role in the Club’s next chapter as it returns to its rightful place at the top of Italian, European and world football history.” declared the founder and managing partner of red birdGerry Cardinale, who will surely wait for a visit from the famous basketball player in a game of the rossonero.


Milan release for sale
The official statement shared by the club on the networks


RedBird will build on Elliott’s success with the Serie A Champions

RedBird Capital Partners (“RedBird”) and Elliott Advisors UK Limited (“Elliott”) announced today that they have reached a definitive agreement for RedBird to acquire Associazione Calcio Milan (“AC Milan”, “Milan” or the “Club”). , newly crowned Serie A Champions. The transition to new ownership will take place over the summer, with closing expected no later than September 2022.

The deal, which values ​​the club at €1.2bn, will see Elliott retain a minority financial stake in the club and seats on the Board of Directors, cementing a partnership between RedBird and Elliott that continues the progress made under Elliott’s stewardship over the past few years. last four years.

RedBird’s priority is to work with the Club’s title-winning sports and management team to continue Milan’s journey back to the top of world football. A combination of a successful on-pitch team, Milan’s player acquisition and development expertise, a world-class business operation, and RedBird’s experience in operating and building global sports businesses, will ensure that the next chapter in history from Milan take the Rossoneri to even greater heights.

RedBird Founder and Managing Partner Gerry Cardinale said: “We are honored to be a part of AC Milan’s illustrious history and are excited to play a role in the Club’s next chapter as it returns to its rightful place in the pinnacle of Italian, European and world football history I want to thank Gordon Singer and the entire Elliott team for the tremendous work they have done over the last four years in rebuilding Milan and returning it to its rightful place at the pinnacle of Serie A. RedBird’s investment philosophy and track record in team ownership has shown that football clubs can be successful on the pitch and sustainable off it – we look forward to a long-term partnership with the club, its team manager and Milanisti around the world to continue driving Milan forward for years to come.”

Elliott’s managing partner, Gordon Singer, commented: “When Elliott acquired AC Milan in 2018, we inherited a club with a great history, but serious financial problems and lackluster sporting performance. Our plan was simple: create financial stability and return AC Milan to where it belongs in European football. Today, I think we have achieved both. As we make this remarkable transition into the next chapter of AC Milan, I want to express our deepest sense of humility, pride and, above all, gratitude for the experiences we have had. he shared with every member of the AC Milan family: We couldn’t have done any of this without you, Il Popolo Milanista”.


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