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Italian football club AC Milan's ownership has been changed as the US investment firm, RedBird Capital Partners has announced the acquisition of Associazione Calcio Milan (AC Milan) for €1.2 billion on Wednesday.
Since its founding in 1899, AC Milan has won many accolades including 19 Serie A Championships, seven Champions Leagues/European Cups, and Supercoppa Italianas among others.
RedBird founder Gerry Cardinale said: "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 most-valuable baseball club in the world, New York Yankees' owners Yankee Global Enterprises has entered into a strategic partnership and acquires minority equity stake. Talking about the partnership Cadinale said, “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,” he added.
With 14 clean sheets, AC Milan have kept the most clean sheets in the top-5 European leagues in 2022. The Italian giants will look to continue their league winning performance in the ongoing Serie A season.