AC Milan confirm $1.78 billion ownership takeover

Avatar

RedBird Capital Partners have agreed a deal with fellow US private equity firm Elliott to acquire Italian football giants and title winners AC Milan in a deal that values the side at €1.2 billion ($1.78 billion AUD).

The two parties have confirmed the transition to new ownership, which will take place over the European summer – the deal is expected to close no later than September 2022.

Elliott, which acquired the Serie A club in 2018 when former owner Li Yonghong failed to make loan repayments to the hedge fund, will retain board member seats and minority share in the team.

RedBird, which is overseen by managing partner Gerry Cardinale, says its priority for Milan is to work with the club’s existing title-winning sporting and management team in supporting the Italian champions ongoing resurgence.

Following the acquisition of the historic European powerhouse, Cardinale said in a statement:

“We are honoured to be a part of AC Milan’s illustrious history and are excited to play a role in the club’s next chapter as it returns to its rightful place at the very top of Italian, European and world football. I want to thank Gordon Singer and the entire Elliott team for the tremendous work they have done over the last four years in rebuilding Milan and returning it to its rightful place at the top of Serie A.

“RedBird’s investment philosophy and track record in team ownership has shown that football clubs can be successful on the pitch and sustainable off it – we are looking forward to a long term partnership with the club, its management team and Milanisti around the world to keep propelling Milan in the years to come.”

Elliott managing partner, Gordon Singer, added to the statement:

“When Elliott acquired AC Milan in 2018, we inherited a club with a tremendous history, but with serious financial problems and a mediocre sporting performance. Our plan was simple: to create financial stability, and to return AC Milan to where it belongs in European football. Today, I believe we have accomplished both.

“As we make this remarkable transition to AC Milan’s next chapter, I want to express our deepest sense of humility, pride and above all gratitude for the experiences we have shared with each member of the AC Milan family: We could not have done any of this without you, Il Popolo Milanista.”

Previous ArticleNext Article

Football NSW to Build on 2024 Participation Record in 2025

Avatar
Image credit: Football NSW

Football NSW are aiming to develop on the extraordinary numbers of the 2024 season that saw more than 260,000 players take to the pitch. The announcement comes as part of the national Play Football campaign.

With NSW being one of Australia’s largest participation states for football, the federation’s push for more numbers is a welcome target for football in the country.

Football NSW CEO John Tsatsimas spoke with enthusiasm about the sport’s trajectory, highlighting its inclusive nature.

“Football continues to be the sport of choice for the NSW and Australian community, providing a positive environment for participants of all ages and abilities,” Tsatsimas mentioned via Football NSW official press release.

“We have had unprecedented growth in players, coaches, referees and volunteers, with exponential growth in the female game.”

The statistics paint a promising picture of the sport’s expansion, with 2024 registering a 9% increase in player numbers from the earlier season. This translates to over 20,000 new participants.

Perhaps most significantly with the effect of the Women’s FIFA World Cup of 2023, female participation surged by 17%, with more than 9,000 women and girls joining the sport, accounting for nearly half of the total growth.

Maintaining and increasing Women and girls’ levels in the sport are crucial points for development of the Australian game and will be key for the continued rise in participation numbers.

The organisation is now actively encouraging early registration for the 2025 season to ensure players can secure spots with their preferred local clubs, with help from the updated Play Football website.

Beyond player participation, Football NSW is expanding its focus on supporting roles within the sport. The 2024 season witnessed record numbers in coaching, refereeing, and volunteering positions, all crucial components of the game’s ecosystem.

The need for more people joining non-player roles through all levels of the game in NSW is evident with John Tsatsimas pointing out himself the necessity for the 2025 Season.

“There’s a place for everyone in our sport, and we look forward to welcoming new and returning participants for the 2025 season,” Tsatsimas explained via Football NSW official press release.

For those interested in contributing to the sport beyond playing, Football NSW has established comprehensive pathways.

The Football NSW Coach Hub provides resources and guidance for aspiring coaches looking to shape the next generation of footballers.

Additionally, the Referee Hub offers opportunities for individuals to engage with the sport from a different perspective while maintaining an active lifestyle.

With football’s exciting growth continuing in Australia with the expansion and promising viewership numbers of the 2024-25 professional A-leagues, it is always important for the sport that the participation numbers of state leagues and amateur local clubs follow the trend.

Register now for 2025 by clicking here.

Keisuke Honda’s venture capital secures $158M to back AI startups

Avatar
Image credit: mooinblack / Shutterstock.com

Former Japanese soccer star Keisuke Honda has scored another win off the pitch, his venture capital firm, X&KSK Fund, has secured $158 million to invest in tech start-ups specialising in AI and cutting-edge business solutions.

Over 20 investors are supporting Honda’s fund, including prominent Japanese financial institutions like Sumitomo Mitsui Banking Corp, Nomura Holdings, and SBI Holdings. Notably, SBI Holdings and SBI Shinsei Bank have contributed a combined $20.46 million (¥2 billion), making them the fund’s largest stakeholders.

Shohei Yamada, a partner at SBI Investment, highlighted that the goal of this investment is to expand its network of international investors and promote Japanese start-ups. In Japan, where the number of so-called “unicorn” companies—those valued at over $1.61 billion—remains limited, this initiative represents a significant step forward for the local start-up ecosystem.

Keisuke Honda, known for his stellar performances at CSKA Moscow, AC Milan, and three consecutive World Cups, has been expanding his business ventures. Together with American actor Will Smith, he co-founded Dreamers VC. His goal is to create a “decacorn”—a private company valued at over $16.17 billion in Japan.

Honda is aware establishing a decacorn is rare in Japan, however, he is assertive it can be achieved.

“I’m aware that creating a decacorn in Japan is a very difficult challenge, but considering what the Japanese have already achieved, I believe it is possible,” he said via email interview.

The former AC Milan midfielder recognized that his soccer fame opens doors to profitable investment opportunities. He also pointed out that, unlike in the U.S., celebrities in Japan are typically reluctant to openly talk about their investments.

Although the number of start-ups in Japan is on the rise, the country still falls short in producing unicorns. A report from Japan’s Ministry of Economy, Trade, and Industry highlights that fostering start-up growth requires improved access to significant funding.

In 2022, Japanese start-ups raised a record ¥978.2 billion (10.01 billion AUD), but this figure dropped to ¥803.9 billion (8.22 billion AUD) in the following year. Despite the decline, it still represents a fivefold increase compared to 2014.

The X&KSK Fund seeks to back innovative projects and promote cutting-edge technologies. This initiative marks a significant milestone for Keisuke Honda and Japan’s emerging start-up ecosystem, bringing fresh momentum to its expansion.

Keisuke Honda’s involvement in the X&KSK Fund represents a significant shift in how athletes, especially football players, are positioning themselves within the broader business and tech world.

Historically, athletes, particularly in football, have often focused on careers post-retirement that include media ventures, sponsorships, or brand endorsements. However, Honda’s active role in venture capital, particularly in sectors like AI and tech innovation, signals a new wave of athlete entrepreneurs taking a more hands-on approach in shaping the future industries.

This shift is particularly important because football players, given their fame and influence, have the potential to leverage their personal brands to foster meaningful change within industries beyond sports.

Players such as Honda, who have gained global recognition, can access exclusive investment opportunities that might otherwise be difficult to reach for traditional investors.

By actively participating in initiatives like Dreamers VC, Honda is not just a figurehead—he’s an active contributor to the creation of business ecosystems that can have a lasting impact on both the tech industry and Japan’s start-up scene.

Moreover, for footballers, particularly those who achieve global success, such investments can be a smart way to secure long-term financial stability post-retirement, as they can often face a shorter career span.

The increased involvement of athletes in high-level investments allows them to diversify their portfolios and contribute to industries that influence the future of society. This trend is beginning to reshape how sports figures are perceived, from being athletes to being influential business leaders and investors.

Most Popular Topics

Editor Picks

Send this to a friend