After four years of Elliott management, Milan could change hands and end up under the control of another American club: RedBird Capital. Founded in 2014 by Gerry Cardinale, RedBird is particularly active in the sports sector, where it boasts – or has already completed – various investments in the most disparate companies.
Starting for example with Dream Sports, whose investment dates back to October 2021, a sports technology company whose main brand is Dream11, the main Daily Fantasy Sports platform in India. Or OneTeam, an association between NFL and MLB players born with the aim of monetizing the collective rights of players (here the investment dates back to December 2019).
And again RedBall Acquisition Corp, a SPAC created by Gerry Cardinale and Billy Beane with the aim of acquiring a 25% stake in Fenway Sports Group (FSG), the group that controls Liverpool’s top Premier League club.
On the pitch, however, RedBird founded XFL, a professional football league born in collaboration with Dwayne Johnson And Dany Garcia and uniquely positioned to become North America’s next major sports league (the league recently signed a television rights deal with ESPN).
Looking specifically at the world of football, RedBird is essentially active on two fronts. The company is first and foremost close to Liverpool. A little over a year ago – in April 2021 – after the failed agreement with RedBall, the company became a direct shareholder of the Fenway Sports Group (FSG), a global sports, marketing, media, entertainment and real estate platform that owns the Reds in England.
The operation saw the entry of RedBird with a 10% stake, with Fenway Sports Group valued at $ 7.35 billion (therefore, an investment of $ 735 million). RedBird has thus become the third most important partner of FSG, and above all it has been able to allow Liverpool to carry out a transfer campaign at pre-pandemic levels, as well as to continue the Anfield refurbishment worksthe stadium that hosts the home games of the Reds.
On the occasion, as part of the overall deal, the NBA star LeBron James, Maverick Carter and their longtime business partner Paul Wachter they had exchanged a previous stake held in Liverpool, becoming shareholders of FSG along with RedBird.
Not only. RedBird also became the owner of the Toulouse in July 2020. The French club – which was promoted to Ligue 1 at the end of the 2021/22 season – was taken over through the club RedBird FC, which acquired 85% of the shares. The transaction had provided that the club’s previous major shareholder, Olivier Sadranremained within the capital with a share of 15%.
“We are proud and excited to help Toulouse write a new chapter and exploit their enormous potential. We are committed to building a long-term sustainable foundation for club success by improving sporting performance, business operations and community contribution. We look forward to working closely with Olivier, the city of Toulouse and the Occitania region, to bring Toulouse back to an elite level.Cardinal had declared following the acquisition.