RedBird will be the new majority shareholders of AC Milan club and the deal will not be closed later than September 2022, says the official statement. An official agreement has been found between the parties.
Elliott Management Corporation have released their own statement to thank the fans of the Rossoneri. Here are the words:
"To the Rossoneri around the world:
A truly historic season has ended as we all had hoped - with the long-awaited joy of a Serie A title. It came by hard work, sacrifice, and teamwork at its very best. Throughout the campaign, our players faced worthy rivals, as well as many doubters who told us it couldn't be done. But we never stopped believing, and AC Milan has responded by winning the Scudetto, the club's first since 2011. We began our ownership in 2018, at a time when few would have predicted such a dramatic turnaround. At the time, we promised AC Milan financial stability, sound management, and sporting success- a sustainable model focused on the fundamentals. We invested in talent equal to the standards of an iconic team with a global fan base; we gave the club the dynamic and visionary leadership that it deserved both on and off the pitch; and we invested in players from a new generation, trained and inspired by legends from the Rossoneri's past. With these changes in place, the groundwork is laid for further success, more moments of pride, and more winning seasons. As we look towards the future and even greater heights, now is the right moment to share with you the details of a change in the club's ownership: we have agreed to transfer Elliott's controlling interest in AC Milan to RedBird Capital Partners, whilst we will remain a significant investor, with seats on the Board. RedBird sees the opportunity exactly as we do. In passing on the baton to RedBird, we stressed three values: alignment of vision, continuity of purpose, and ongoing financial strength. By these crucial measures, and based on RedBird's own outstanding record in sports investments, we believe that RedBird is perfectly positioned to carry forward our shared vision.
RedBird, like us, believes in building successful, sustainable clubs, and will keep AC Milan on a solid financial footing and focused on the future. Our continued involvement reflects Elliott's confidence in RedBird's leadership, and our belief that the best is yet to come. And under the new arrangement, the same world-class leaders who brought us this far will remain at the helm. For these reasons, AC Milan can be assured of the same support that Elliott has given the club over the last four years. We make this transition feeling a deep sense of humility and pride - and most of all, gratitude for the experiences we have shared with the club, with the City of Milan, and with all of you. For your unrelenting passion, belief, and energy, we thank every member of the AC Milan family-those who bring the stadium to life every game, the Milan community that welcomed us so warmly, and the club's faithful fans everywhere. We were always aware of the stakes, and of the importance of doing right by you. We could not have done any of this without the trust you placed in us. We thank you for that, and we consider it a privilege to stay closely involved with this great institution. It has been an honour to serve as the stewards of this magnificent club, but we will always remember that it really belongs to you, it Popolo Milanista. Sempre Milan!"
Official statement: RedBird Capital Partners enters agreement with Elliott
