Friday September 22, 2023
The Best Employers in Sports Survey is Now Open!

RedBird Capital Soars to Front of AC Milan Sale

AC Milan
Front Office Sports Today

Could Promotion-Relegation work in College Football?

The proposal aims to create an exciting media product while reducing travel for non-football sports.
Listen Now
September 21, 2023 | Podcast
Copy Link
Link Copied
Link Copied

RedBird Capital appears to be outpacing Investcorp in the race to acquire AC Milan, which is one point away from its first Serie A title in 11 years.

Bloomberg reported that RedBird has reached a preliminary agreement on a deal worth around $1.4 billion with outgoing owner Elliott Management, and it could be announced as soon as next week.

Investcorp’s exclusive negotiation period with Elliott Management expired at the end of April, but the asset manager was still holding takeover discussions. On Friday, Reuters reported that Investcorp “couldn’t agree with them [Elliott] on the resolution of the matter” and put its plans on hold.

RedBird, which manages around $6 billion in assets, swooped in after Investcorp’s exclusive talks ended. Should a deal go through, AC Milan would strengthen RedBird’s already robust sports portfolio.

  • RedBird purchased an 11% stake in Fenway Sports Group for around $750 million last year. 
  • FSG, which also includes LeBron James as an owner, owns the Boston Red Sox, Pittsburgh Penguins, and Liverpool FC.
  • In 2020, RedBird purchased an 85% stake in Toulouse FC, which secured a promotion back to Ligue 1 from Ligue 2 last month.

Milan’s Management Moves

Elliott Management will continue to hold a minority stake in AC Milan. The fund manager took over the team in 2018 following financial challenges faced by former owner Yonghong Li.

Milan Reports noted RedBird would like to keep AC Milan’s directors, Paolo Maldini and Frederic Massara. The deal is not locked in and could still be delayed.

Copy Link
Link Copied
Link Copied

What to Read

Italian Soccer Can't Seem To Figure Out Its Billion-Dollar Business

Juventus has pushed back a report that the club will be sold.
AC Milan and Inter will build separate new stadiums, ending their historic shared tenure at San Siro.

Inter, AC Milan to Leave San Siro For Separate Stadiums

The new stadiums could support Italy's bid for the 2030 World Cup.

The New Company Making Millions From Broadcasting NFL Games At Bars

Everpass Media distributes NFL Sunday Ticket to bars and restaurants.

Another RSN Falls Victim To Volatile Media Rights Landscape

AT&T SportsNet Rocky Mountain set to shut down
podcast thumbnail mobile
Front Office Sports Today

Could Promotion-Relegation work in College Football?


Featured Today

Teams without secured venue situations could be left out of a potential XFL-USFL merger.

XFL-USFL Merger Could Drop Teams, Change League Name

Teams without secured venues could be cut from a XFL-USFL merger.
September 21, 2023

Rupert Murdoch's Exit Leaves Lasting Fox Sports Legacy

Rupert Murdoch steps down as chairman of Fox Corp. and News Corp.
Could ESPN lose events such as the NBA Finals if it sold ABC.
September 21, 2023

Selling ABC Poses Billion-Dollar Dilemma for Disney and ESPN's Future

Losing ABC would create complications as ESPN enters NBA rights negotiations.
Boise State Broncos running back Ashton Jeanty (2) runs the ball against the North Dakota Fighting Hawks during the first half at Albertsons Stadium.
September 20, 2023

The First Official Proposal for Promotion-Relegation In College Football

Realignment is forcing Group of 5 schools to rethink their structure.


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

Andlauer Completes Record $950M Senators Acquisition

Long-awaited pact follows three months of due diligence, league review
A view of the Spurs club badge on the exterior of Tottenham Hotspur Stadium in London.
September 21, 2023

Tottenham, Valued At $2.8B, Says It's Open To Stake Sale

The club's chairman says new minority investors could come on board.
September 21, 2023

England Women’s Team Resolves Pay Dispute After WWC Success

Agreement arrives a month after the end of the 2023 Women's World Cup
September 20, 2023

Royals Miss Self-Imposed Deadline To Select Stadium Site

Ongoing discussions with Jackson, Clay Counties prompt timetable shift
September 20, 2023

Chelsea Gets $500M For Stadium Projects, Club Acquisitions

The Premier League club is receiving crucial new investment.
September 19, 2023

Rays Eye Much More Stable Future With Stadium Deal

Ballpark deal ends years of relocation rumors
September 18, 2023

Wisconsin Legislators Make Renewed Pitch To Keep Brewers

Republican-led effort looks to retain MLB club in the state
September 18, 2023

Delay Around Brady's Raiders Stake Sparks Questions

Tom Brady's purchase of a stake in the Raiders is still pending.