Saturday September 30, 2023

Judge Authorizes Effort to Block $1.3B AC Milan Sale

  • Blue Skye Financial Partners owns a 4.3% stake in Milan.
  • The firm has been authorized to obtain a “limited” number of documents.
AC Milan
Front Office Sports Today

Donovan McNabb and the State of Football

From Taylor Swift to the Prime Effect, there's a lot going on in the world of football.
Listen Now
September 29, 2023 | Podcast
Copy Link
Link Copied
Link Copied

A minority investor in AC Milan has been authorized to obtain documents as it attempts to block the sale of the Italian soccer club to private investment firm RedBird Capital Partners. 

U.S. District Judge Katherine Polk Failla has authorized Blue Skye Financial Partners, which owns a 4.3% stake in Milan, to obtain a “limited” number of documents to use in a Luxembourg court.

Blue Skye claims Elliot Management — Milan’s majority shareholder since 2018 — held talks “behind closed doors” about the potential sale of Milan to New York-based RedBird Capital

  • In May, RedBird Capital — which has $6 billion in assets under management — agreed to purchase Milan from Elliot in a deal valued at $1.3 billion. 
  • Blue Skye’s claims are a breach of minority rights, and the firm hopes to prove Elliot “operated with malice or deceit.” 

Despite the potential scrutiny, Elliot has vowed to cooperate with the request and provide everything that is owed in defense of Blue Skye’s “frivolous and vexatious” claims. 

Elliot has invested as much as $838 million into the top-flight club since 2018, per Bloomberg.

On-Pitch Success 

The 14th-most valuable soccer club in the world, Milan won its 19th Serie A title in the 2021-22 season and has generated $257 million in revenue in 2022, up from $165 million in 2021.

Last month, the club extended its kit sponsorship deal with sportswear brand Puma. The Germany-based company will pay Milan $31.5 million annually over five years.

Copy Link
Link Copied
Link Copied

What to Read

AC Milan Abandons $1.3B Project For New 70,000-Seat Stadium

RedBird Capital-owned club continues path toward its own facility
Stacy Lewis tees off on the seventeenth hole during the first round of the CPKC Women's Open golf tournament at Shaughnessy Golf & Country Club.

In Ryder Cup’s Shadow, Solheim Cup Captain Laments ‘Missed Opportunity’

U.S. captain Stacy Lewis criticized the lack of cross-promotion and marketing.

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.
podcast thumbnail mobile
Front Office Sports Today

Donovan McNabb and the State of Football


Featured Today

Ryder Cup’s Future Hanging In The Balance Amid Saudi Disruption

An unexpected change could be coming to the Ryder Cup.
September 29, 2023

Colorado Has Become the Hollywood of College Football. This Weekend Proves It.

Folsom Field will welcome dozens of Hollywood stars on Saturday.
Toy Story
September 29, 2023

‘Toy Story’ Success Could Lead to More Disney-Branded NFL Kid-Casts

A successful ‘Toy Story’ game could open the door for other franchises.
Kansas City Chiefs tight end Travis Kelce on field after the game at GEHA Field at Arrowhead Stadium.
September 29, 2023

Taylor Swift Shaking Up Travis Kelce, Chiefs Prop Betting Market

Sportsbooks are capitalizing with Taylor Swift-themed prop bets.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations
Mississippi tackle Michael Oher poses with his family after being selected as the number 23 overall pick to the Baltimore Ravens in the 2009 NFL Draft at Radio City Music Hall in New York City.

Judge Ends Michael Oher’s Conservatorship with Tuohy Family

Oher claims the Tuohys misrepresented their legal relationship to him.
Patrick Reed
September 27, 2023

Judge Dismisses Both of Patrick Reed’s Defamation Cases

A federal judge dismissed both of Patrick Reed’s defamation cases.
NFL concussions
September 27, 2023

The NFL’s $1B Battle Over Concussion Settlement Heats Up

The NFL is seeking at least $1.2 billion from its risk carriers.
Jacksonville Jaguars quarterback Trevor Lawrence is among the FTX endorsers who have reached a settlement for their roles in promoting the crypto exchange.
September 18, 2023

Trevor Lawrence Settles Lawsuit Over FTX Crypto Endorsement

Lawrence has settled while other FTX athlete endorsers still face lawsuits.
Lane Kiffin
September 15, 2023

Ole Miss Football Player Files $40M Lawsuit Against Lane Kiffin, School

Ole Miss coach Lane Kiffin is being sued by one of his players.
Senate Hearings
September 13, 2023

Senate Subpoenas Saudi Investment Fund Records in PGA Tour Inquiry

Senate hearing reveals deep concerns about the potential PGA Tour-LIV deal.
Jim Trotter
September 12, 2023

Reporter Jim Trotter Sues NFL, Alleges NFL Owner Made Racist Remark

Trotter alleged Terry Pegula made a "highly offensive and racist" remark.