The RedBird Capital fund bought Milan with LeBron among its investors

AC Milan announced on Wednesday that the American investment fund Red Bird Capital definitely acquired the ‘rossonero’ club for 1,200 million euros, in an operation in which the American sports franchise Yankee Global Enterprises, owner of the New York Yankees (baseball), also participates as a minority shareholder. lebron james The four-time NBA champion and Lakers star are among the investors.

A new era begins for the ‘rossoneri’. The entry of the US fund is for all intents and purposes complete from this Wednesday, despite the fact that the agreement was announced on June 1.

The Elliot fund, also from the United States, enables RedBird, led by Gerry Cardinalfounder and managing partner of this fund which, with 1,200 million euros, aims to return Milan to the top of Europe.

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RedBird Capital already has experience in sports-related investments. owns 85% of Toulouse, who will play in the French first division next season; and 10% of Fenway Spot Groupan American company -which basketball player LeBron James owns- in assets in Liverpool, Boston Red Sox (baseball) and Pittsburgh Penguins (hockey).

The agreement includes as a minority shareholder, in what Milan called in its statement a “strategic partnership”, Yankee Global Enterprises (YGE), a sports franchise owned by the Steinbrenner family, with which RedBird also shares ownership of the American pay channel Yankee Entertainment and Sports Network.

Regarding this strategic partnership, Cardinale said, “We have a multi-decade relationship with the New York Yankees and the Steinbrenner family which has resulted in the creation of some of the most successful businesses in sports, entertainment and hospitality.”

“Priority focuses include supporting the club’s sports and business leadership to ensure the team continues to compete at the highest level of football; ensuring it has infrastructure and facilities in line with one of the top world sports organization. world; and strengthen the Club’s women’s and youth teams, as well as its philanthropy, ‘Fondazione Milan'”, the milanista club declared in its statement.

For his part, Cardinale has no doubt what the RedBird’s goal is in Milan.

“Our vision for Milan is clear: we will support our talented players, coaches and staff to achieve success on the pitch. We will strive to use our global sports and media network, analytics expertise, track record in developing sports stadium and hospitality to achieve one goal: keep the Milan area at the summit of European and world football”, said the fund’s managing partner.