RedBird Capital Explores Partial Sale of AC Milan Stake

U.S. firm RedBird Capital plans to sell part of its stake in AC Milan, acquired in a €1.2 billion deal from Elliott in 2022. A document by Washington Harbour circulates among potential investors, though RedBird's head denies its origin. The sale could rebalance RedBird's investment portfolio.

U.S. investment firm RedBird Capital is considering selling a portion of its stake in Italian soccer club AC Milan, which it bought from U.S. fund Elliott last year for €1.2 billion. The information comes from an Italian daily, La Repubblica, citing a financial document.

The acquisition was partially financed by a vendor loan from Elliott amounting to €560 million, set to mature next year, along with RedBird's own investment of €681 million, according to the report. RedBird aims to rebalance its portfolio by selling up to €150 million of its initial capital investment at base cost.

La Repubblica mentioned a document for new investors authored by U.S. investment firm Washington Harbour on RedBird's behalf. However, Gerry Cardinale, founder and managing partner of RedBird, denies any affiliation with Washington Harbour or the document. Washington Harbour has not responded to requests for comment.

(With inputs from agencies.)