RedBird teams up with Yankees owners to complete AC Milan takeover | Football News – Times of India

By Adam D Anglo On Aug 31, 2022

MILAN: US investment firm RedBird Capital has teamed up with the owners of the New York Yankees to complete the 1.2 billion euro ($1.20 billion) acquisition of Italian soccer champions AC Milan, it said in a statement on Wednesday.
Yankee Global Enterprises (YGE), owner of the New York baseball team, will take a minority equity stake in the former European champions Milan as part of the deal to acquire the club from US private equity group Elliott.

RedBird Capital Partners completes acquisition of AC Milan ➡️ https://t.co/34kE6CVVnWRedBird Capital Partners com… https://t.co/MEO3dALLii

— AC Milan (@acmilan) 1661950131000

RedBird Founder Gerry Cardinale said the aim of the new owners was “maintaining Milan’s place at the summit of European and world football”.
Milan are seeking to build on the success of last season when they won the Italian Serie A title for the first time in 11 years.
Milan were a dominant force in European soccer under the previous ownership of former Prime Minister Silvio Berlusconi but won the European Champions League for the last time in 2007.
RedBird is already an investor in Fenway Sports Group, the owner of Liverpool FC and the Boston Red Sox baseball team. RedBird also has a controlling stake in French soccer club Toulouse.

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