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Monday, May 20, 2024

RedBird Capital Agrees to Buy AC Milan, Valued at $1.3B

  • The New York-based private investment firm won its bid over Investcorp.
  • AC Milan is currently the 14th-most-valuable soccer team in the world, per Forbes.
AC Milan

RedBird Capital Partners has reportedly finalized a deal to purchase AC Milan, valuing the Italian soccer club at $1.3 billion, according to Bloomberg. 

The New York-based private investment firm, which has $6 billion in assets under management, won its bid for the Serie A club over Investcorp — the Middle East’s largest alternative assets manager. Current owner Elliot Management will still keep a minority stake. 

Investcorp, which has $41 billion in assets under management, was once in exclusive talks to buy AC Milan from Elliot, but failed to reach a deal before the end of an exclusivity period in April. 

  • AC Milan is currently the 14th-most-valuable soccer team in the world, per Forbes.
  • The club won its 19th Serie A title in the 2021-22 season.
  • It has generated $257 million in revenue in 2022, up from $165 million in 2021.

AC Milan is also in the process of receiving approval to build a new stadium to replace the historic Giuseppe Meazza Stadium at San Siro. The potential project, led by architectural design firm Populous, is estimated to cost $733 million.

Milan’s city council has ordered a public debate to take place for plans to be approved.

Sports Investments

AC Milan adds to a growing portfolio of sports-related investments for RedBird.

The firm holds a stake in Fenway Sports Group — owner of Liverpool, the Boston Red Sox, and Pittsburgh Penguins — and is also an investor in Toulouse FC, the XFL, and the IPL’s Rajasthan Royals.

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