• Loading stock data...
Saturday, December 7, 2024
Tune in on Dec. 11 at 1:05 p.m. ET for our last Future of Sports virtual summit of the year – Future of Sports: Marketing! Register Now

RedBird’s Purchase of AC Milan Under Investigation

  • An Italian government agency is looking into alleged embezzlement claims.
  • The claims were made by Milan minority investor Blue Skye Financial Partners.
AC Milan

Last year’s $1.3 billion sale of AC Milan to New York-based investment firm RedBird Capital Partners is under investigation in Italy.

The Guardia di Finanza — which investigates financial crimes — has reportedly requested documents from accountants and advisors who helped facilitate the deal. The agency is looking into alleged embezzlement claims by Milan minority investor Blue Skye Financial Partners

  • In June 2022, Blue Skye claimed that former Milan owner Elliott Management held talks “behind closed doors” about the sale. 
  • That same month, Blue Skye asked a U.S. court for documents regarding the deal to prove that Elliot “operated with malice or deceit.” 
  • In July 2022, U.S. District Judge Katherine Polk Failla authorized Blue Skye to obtain a “limited” number of documents to use in court. 
  • Two months later, Blue Skye’s attempt to freeze the sale of Milan was dropped following a hearing in an Italian court.

AC Milan Investor Drops Petition to Suspend $1.2B Sale

An investor in AC Milan will drop attempt to freeze sale.
September 14, 2022

Milan — the 14th-most-valuable soccer team in the world, per Forbes — won its 19th Serie A title last season and is currently second in the domestic standings behind Napoli. 

New Investor 

In August 2022, MLB’s New York Yankees and the Main Street Advisors investment fund reportedly became stakeholders in Milan. The deal could bring the Serie A club’s broadcasts to the Yes Network — a regional sports network owned by the Yankees, RedBird, Amazon, and others.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

Racing Forward: How SailGP is Redefining High-Performance Sailing and Championing Gender Equality

SailGP is redefining high-performance sailing through their bold commitment to gender equality and their Women’s Performance Program.

Rays Reversal: St. Pete Approves $287M Stadium Bond Package

The approval gives the embattled project a big dose of resurgent energy.

‘This Is a Big Deal’: SEC Defends Championship Amid CFP Debate

Neither Texas nor Georgia appears at risk of missing the Playoff.

Hamilton’s Mercedes Era Ends in F1 Finale Amid Rising Tensions, Drama

Hamilton delivered eight constructors’ and six drivers’ championships for Mercedes.

Featured Today

LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.
November 30, 2024

U.S. Investors Are Gunning for England’s Small Soccer Clubs

Is another Hollywood-like success story possible among the U.K.’s smallest clubs?
Nov 1, 2024; Boise, Idaho, USA; Boise State Broncos running back Ashton Jeanty (2) leads the team onto the field prior to the first quarter against the San Diego State Aztecs at Albertsons Stadium.
November 29, 2024

Schools Are Scrambling to Prepare for the NCAA Revenue-Sharing Era

In the post–House v. NCAA world, “everyone’s kind of on their own.”
exclusive

Talor Gooch Using LIV Golf Fortune to Start Building Sports Empire

The golfer has made more than $43 million individually from LIV.
November 13, 2024

Why Liberty Media Spun Off Assets, Shook Up Leadership

Longtime CEO Greg Maffei is stepping down at the end of the year.
December 4, 2024

U.S. Firm Makes $310M Bet on Soccer by Forming Superagency

The U.S.-based investment company makes a significant play in international soccer.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
Oct 27, 2024; Seattle, Washington, USA; Buffalo Bills quarterback Josh Allen (17) passes against the Seattle Seahawks during the second quarter at Lumen Field.
October 30, 2024

Buffalo Bills in Talks to Sell Stake to PE Firm Arctos: Report

Arctos already has a slice of Paris Saint-Germain and the PGA Tour, among other assets.
Jul 7, 2021; Tampa, Florida, USA; Tampa Bay Lightning owner Jeff Vinik hoists the Stanley Cup after the Lightning defeated the Montreal Canadiens 1-0 in game five to win the 2021 Stanley Cup Final at Amalie Arena.
October 25, 2024

Lightning Sell at $1.8B Valuation, Nearly Double Prior NHL Record

The Lightning unveiled a multistep and multiyear sale process.
May 24, 2024; Minneapolis, Minnesota, USA; Dallas Mavericks owner Mark Cuban celebrates after defeating the Minnesota Timberwolves in game two of the western conference finals for the 2024 NBA playoffs at Target Center.
October 9, 2024

Why Mark Cuban Sold the Dallas Mavericks When He Did

Cuban sold his majority stake to the Adelson family in December 2023.
Young fans look over Michigan State sports equipment on display during the Spring Showcase on Saturday, April 20, 2024, at Spartan Stadium in East Lansing.
October 2, 2024

Private Equity Firms Buy Rival Hockey Brands CCM and Bauer

Both brands have been around for decades and changed ownership in the same week.