October 04, (THEWILL) – AC Milan’s parent company RedBird Capital, has firmly denied claims that it is seeking to sell a portion of its stake in the Italian football club. The denial comes in response to a report published by the Italian newspaper La Repubblica, which suggested that RedBird was looking to “rebalance its portfolio” by offloading up to €150 million of its initial €681 million investment.
RedBird, the US investment firm that acquired AC Milan from Elliott in a €1.2 billion deal last year, has unequivocally dismissed the report as a “complete fabrication” and “wholly untrue.” A spokesperson for the company stated that Gerry Cardinale, RedBird’s founder and managing partner, has no knowledge of the investment firm Washington Harbour, which the newspaper claimed had prepared a document for potential new investors.
The La Repubblica report cited this purported document, which it said had been circulating in international financial circles since May. However, RedBird has distanced itself from the allegations, with a spokesperson clarifying that the document is “not attributable” to Cardinale.
The news of a potential stake sale comes as AC Milan continues to navigate its position in the Premier League standings. The club, which has been under RedBird’s ownership for less than a year, is seeking to build on its recent success and strengthen its position in the highly competitive European football landscape.
The dismissal of the stake sale reports provides a clear indication that RedBird remains committed to its investment in AC Milan and its future development.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
