The closing between RedBird Capital Partners and Elliott Management Corporation has been done. The official statement is released. Gerry Cardinale has also explained his vision for the club and said the following words:
"Our vision for Milan is clear: we will support our talented players, coaches and staff to deliver success on the pitch and allow our fans to share in the extraordinary experiences of this historic club. We will look to leverage our global sports and media network, our analytics expertise, our track record in sports stadium developments and hospitality to deliver one goal – maintaining Milan’s place at the summit of European and world football."
The deal will also see Yankee Global Enterprises (YGE), owner of the New York Yankees, one of the world’s most valuable sports franchises, enter into a strategic partnership with the club with a minority equity stake in AC Milan. About this new partnership, Gerry Cardinale said the following:
"We have a multi-decade relationship with the New York Yankees and the Steinbrenner family that has resulted in the creation of some of the most successful businesses in sports, entertainment and hospitality. We are very pleased to continue our partnership with them and will look to explore opportunities together to broaden our fan reach and expand commercial opportunities that are only available to franchises that operate at the highest levels of sports globally."
