A week after bagging the League title, AC Milan appears to be preparing for another huge overhaul. RedBird Capital, an American private investment business, reached a formal agreement to purchase the club on Tuesday. Gerry Cardinale, the corporation’s founder, appears to be on his way to becoming the club’s next owner.
The change in ownership raises the issue of whether AC Milan will use the chance to reclaim its place at the top of European soccer. This is one of the major acquisitions that have taken place in 2022 after Chelsea. Companies or people choose to take part in sporting activities for various reasons. Some do it out of passion while others like bettors.ng do so in order to inform and educate others in the same sphere.
RedBird Capital Partners and Elliott Advisors UK Limited announced that they have signed a formal deal for RedBird to purchase Associazione Calcio Milan, AC Milan, the freshly crowned Champions of Serie A,” the official announcement said. The transition to new hands will occur during the summer, with a closure date in late September 2022.
The agreement, which values the club at €1.2 billion, will see Elliott maintain a minority financial stake in the club as well as members on the Board of Directors, cementing a collaboration between RedBird and Elliott that will build on the progress accomplished under Elliott’s leadership over the previous four years.
RedBird Founder 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 at the very top of Italian, European and world football. 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 top of Serie A.
Having said that, the RedBird Capital, founded in America, is no rookie to European soccer. They’ve been linked to various club purchases and presently control Toulouse, a Ligue 2 team that was recently promoted to France’s top flight. RedBird is also a shareholder in Fenway Sports Group, which owns the Boston Red Sox and the Liverpool Football Club.
Meanwhile, on the final day of the Serie A season, AC Milan defeated Sassuolo 3-0 to clinch the league title for the first time in 11 years. Stefano Pioli’s side knew that a point would be more than enough to finish ahead of rivals Inter Milan. Two goals from Olivier Giroud and one from Franck Kessie sealed the Scudetto in style.
Milan hasn’t won the league title since Massimiliano Allegri led the club to victory in 2010-11. Zlatan Ibrahimovic was a member of that winning team, and he has now won his 7th league in Italy with 3 different clubs (Inter, AC Milan, Juventus). ‘Milan has now surpassed city rivals Inter Milan, who boasts of 18 Serie A titles, to become the second-most successful club in the league’s history, trailing only Juventus, which has 36 league titles.