Further investment of 170 million euros by Red Bird MILAN (ITALPRESS) – Gerry Cardinale and Red Bird continue to invest in Milan. The Rossoneri club has in fact announced the completion, eight months ahead of its deadline, of a refinancing of the vendor loan held by vehicles managed by Elliott. “The refinancing with Elliott, in its position exclusively as financier, includes a further investment of 170 million euros by AC Milan's owners, RedBird Capital (“RedBird”), which reduces the principal amount of the loan to 489 million, with deadline now set for July 2028,” the note reads. “Over the last few years, Milan's financial position has steadily grown and strengthened under the leadership of RedBird, an owner with long-term commitment – comments president Paolo Scaroni – Significant work has been carried out to ensure the stability of the our iconic club, position it for sustainable operational success and nurture the legacy, tradition and values of the Rossoneri.” Since August 2022, Milan has been owned by RedBird Capital Partners, a New York-based private equity firm founded and led by Gerry Cardinale. As part of that acquisition, RedBird brought on its longtime partner, the New York Yankees, as a minority investor. – photo Ipa Agency – (ITALPRESS). glb/red 20-Dec-24 18:44
