New Milan owner Gerry Cardinale has a ‘clear vision’ for the future of the Rossoneri and aims to ‘maintain a place at the summit of European and world football.’
RedBird have confirmed the acquisition of the Rossoneri for €1.2 billion. The American fund has been joined by other co-investors such as Yankee Global Enterprises, owner of the New York Yankees.
“Our vision for Milan is clear: we will support our talented players, coaches and staff to deliver success on the pitch and allow our fans to share in the extraordinary experiences of this historic club,” Cardinale told Milan’s official website.
“We will look to leverage our global sports and media network, our analytics expertise, our track record in sports stadium developments and hospitality to deliver one goal – maintaining Milan’s place at the summit of European and world football.”
“We have a multi-decade relationship with the New York Yankees and the Steinbrenner family that has resulted in the creation of some of the most successful businesses in sports, entertainment and hospitality,” he continued.
“We are very pleased to continue our partnership with them and will look to explore opportunities together to broaden our fan reach and expand commercial opportunities that are only available to franchises that operate at the highest levels of sports globally.”
The Rossoneri won their first Serie A title in 11 years last season and have qualified for the Champions League for two years in a row. RedBird are Milan’s third owner in the last five years after Li Yonghong and Elliott.
Cardinale and Elliott had reached an agreement over the club’s takeover in June when the RedBird founder and managing director went to Milan to visit the club’s headquarters and training centre.
He had also taken part in title celebrations with fans in Milano city centre in May.