RedBird Clears Elliott Debt, Opens a New Chapter for AC Milan

RedBird Capital Partners has officially confirmed the end of Elliott Management’s involvement with AC Milan after securing a refinancing deal with Comvest. The move marks a significant milestone in the club’s ownership journey, signaling greater financial independence following the acquisition completed in 2022.

The refinancing process was designed to strengthen Milan’s capital structure and improve long-term financial flexibility. Funds from the new arrangement were used to fully settle the vendor loan previously provided by entities under Elliott Advisors UK Limited, which had supported RedBird during the initial takeover of the club.

As part of the agreement, changes were made at board level. Gordon Singer, Managing Partner at Elliott, along with Dominic Mitchell, stepped down from the AC Milan board to make way for a new leadership structure aligned with RedBird’s long-term vision.

Despite these boardroom adjustments, the club emphasized that there were no changes to the operational management team. This decision was taken to ensure continuity in governance and day-to-day operations as Milan continues to build stability both on and off the pitch.

RedBird founder Gerry Cardinale highlighted the progress made over the past three years, noting improvements in both financial performance and sporting results that have returned Milan to profitability. With a strong commitment to the club’s future, including the San Siro stadium project, RedBird expressed confidence that AC Milan is on a solid trajectory for sustained growth and success, while Elliott closed its chapter proud of the achievements delivered during its tenure.