Outgoing AC Milan owner Elliott Management has released a letter of gratitude to the club as the takeover by RedBird is made official.
The letter was released on the Milan website on Wednesday morning shortly after the takeover was officially announced by the club.
The €1.2 billion deal will see RedBird Capital Partners become the primary shareholders of Milan but Elliott will still maintain a minority financial interest in the club going forward.
At the beginning of the letter, Elliott focuses on the wonderful success of winning the Scudetto for the first time in 11 years.
“A truly historic season has ended as we all hoped- with the long-awaited joy of a Serie A title. It came by hard work, sacrifice, and teamwork at its very best.
“Throughout the campaign, our players faced worthy rivals, as well as many doubters who told us it couldn’t be done. But we never stopped believing, and AC Milan has responded by winning the Scudetto, the club’s first since 2011.”
In an age where football club owners are often worthy of extreme criticism, Elliott have steered the club away from near financial ruin and put them back on top of the Italian game.
“We began our ownership in 2018 when few could have predicted such a dramatic turnaround. At the time, we promised AC Milan financial stability, sound management, and sporting success.
“We invested in talent equal to the standards of an iconic team with a global fan base; we gave the club the dynamic and visionary leadership that it deserved both on and off the pitch, and we invested in players from a new generation, trained and inspired by legends from the Rossoneri’s past. With these changes in place, the groundwork is laid for further success, more moments of pride, and more winning seasons.”
They then outline the reasons behind endorsing RedBird as the new owners of the club who can continue their good work.
“RedBird, like us, believes in building successful, sustainable clubs, and will keep AC Milan on a solid financial footing and focused on the future.
“Our continued involvement reflects Elliott’s confidence in RedBird’s leadership, and our belief that the best is yet to come. And under the new arrangement, the same world-class leaders who brought us this far will remain at the helm.
“For these reasons, AC Milan can be assured of the same support that Elliott has given the club over the last four years.”
The statement ends with an acknowledgement of how special it has been to own Milan for four years.
“We make this transition feeling a deep sense of humility and pride – and most of all, gratitude for the experiences we have shared with the club, with the City of Milan, and with all of you.
“For your unrelenting passion, belief, and energy, we thank every member of the AC Milan family – those who bring the stadium to life every game, the Milan community that welcomed us so warmly, and the club’s faithful fans everywhere.
“We were always aware of the stakes, and of the importance of doing right by you.
“We could not have done any of this without the trust you placed in us. We thank you for that, and we consider it a privilege to stay closely involved with this great institution.
“It has been an honour to serve as the stewards of this magnificent club, but we will always remember that it really belongs to you, il Popolo Milanista. Sempre Milan!”