AC Milan today informed that a refinancing of the vendor loan held by entities advised by Elliott Advisors UK Limited ("Elliott") has been completed. The refinancing with Elliott, in its position solely as lender, includes an additional investment of €170 million by the Rossoneri club owner, RedBird Capital ("RedBird"), reducing the principal amount of the loan to €489 million, now with a maturity of July 2028.
Paolo Scaroni, Chairman of the club, commented: "Over the course of the past few years, AC Milan’s financial positioning has steadily grown and strengthened under the guidance of RedBird, a committed owner for the long-term. Significant work has been done to ensure the stability of our iconic club, position it for sustainable operational success and uphold the legacy, tradition and values of the Rossoneri."
In August 2022, RedBird Capital Partners, a New-York based private equity firm founded and led by Gerry Cardinale, became the controlling owner of the Club.
As part of that acquisition, RedBird brought in its long-time partner the New York Yankees as a minority investor.
Source: acmilan.com
