One of the fundamental changes enforced by the new ownership group RedBird Capital Partners has been to change the definition of AC Milan to a ‘Media Company’.
As Felice Raimondo writes, a change in Milan’s corporate bylaws was necessary after the simplification operation of the club’s structure carried out by the new RedBird ownership group in April 2023.
The merger by incorporation of ‘Milan Entertainment srl’ and ‘Casa Milan srl’ into the only subsidiary ‘AC Milan spa’ has now been made effective and today Milan can finally define itself as a 360° Media Company.
What is a corporate statute? It is a very important document for any company because it is the legal act that governs the organisation and functioning of the company itself, from the operational guidelines to be followed to the regulation of relations between its members.
We can define it as a sort of ID card for a company, a document that describes all its main characteristics.
Milan can now be described as a Media Company to all intents and purposes. In addition to managing a football team at a competitive level, the company undertakes to tell its story through content on all kinds of platforms.
They aim to create synergies in sectors that are not strictly related to football (TV, real estate, retail) and in general to position itself as a point of reference in its sector, therefore in the eyes not only of the club’s fans but of all fans (or of those who will become one).
Unlike the previous organisation, AC Milan spa now independently manages musical events, shows, bars, restaurants, museums, exploitation of the players’ image rights and securities and real estate transactions.
Fundamental activities are included in the Media Company idea of RedBird, such as the organisation of third-party events (advertising events, shows, conferences etc.), the management of everything related to the drink & food department, that of merchandising and everything that has dealing with the image rights of football players will now be centrally managed by a single subsidiary.
The addition on movable and real estate transactions is important, an addition that in the near future will have to do closely with the construction of the new stadium.