AC Milan have announced that Elliott Management have reached an agreement with RedBird Capital Partners for the sale of the club for €1.2 billion.
The two parties had been in talks for a number of weeks before an agreement was reached, with several other parties being linked with a potential purchase of the Serie A champions.
“RedBird’s priority is to work with the Club’s title-winning sporting and Club management team to continue Milan’s journey back to the summit of world football,” read a press release issued by the Rossoneri on Wednesday.
“A combination of a successful team on the pitch, Milan’s player development and acquisition expertise, a world-class commercial operation, and RedBird’s experience in operating and building global sports businesses, will ensure that the next chapter in Milan’s storied history will take the Rossoneri to even greater heights.”
AC Milan were crowned Italian champions in 2021/22 for the first time in 11 years, dethroning Derby della Madonnina rivals Inter.