The sale of AC Milan to RedBird Capital by Elliott Management should be completed today, according to a report, as details of the shareholders continues to emerge.
According to La Gazzetta dello Sport (via MilanNews), today will be a historic day for Milan as the actual transfer of shares from Elliott to RedBird will take place. There are other new members in the project too though, such as the New York Yankees and Main Street Advisors, who have LeBron James and Drake among their investors.
The Yankees are the most successful baseball team in the world and have been owned by the American family the Steinbrenners since 1973. Yesterday the words of the president of the Yankees – Randy Levine – confirmed the rumours: “We think we can increase Milan’s turnover by joining them. Our relationship with Cardinale has lasted for 25 years.”
Main Street Advisors meanwhile were established in 1997 and offer a ‘wide range of financial, strategic, business building and asset management consulting services to artists, athletes, sports and entertainment companies’.
The only Italians who have joined the RedBird vision for Milan are Riccardo Silva – the owner of Miami FC and owner of Silva International which invests in assets in multiple sectors – and his brother Saverio, co-owner of the chemical group Desa.
