We are advising an affiliate of Elliott Management on the transaction

Davis Polk is advising an affiliate of Elliott Management in connection with the €1.2 billion acquisition of Associazione Calcio Milan (“AC Milan”) by RedBird Capital Partners. Elliott will retain a minority financial interest in AC Milan and seats on the board of directors. The transition to new ownership will take place over the summer, with an expected closing no later than September 2022.

Founded in 1899, AC Milan is a professional football club based in Milan, Italy. RedBird Capital Partners is a private investment firm focused on building high-growth companies alongside entrepreneurs in its four areas of domain expertise: sports, media, consumer and financial services. Elliott Investment Management is one of the oldest fund managers of its kind under continuous management.

The Davis Polk corporate team includes partners William H. Aaronson and Darren M. Schweiger and associates Michael Gilson and Steven Jaffe. Partner J.W. Perry and associate Jack Orford are providing finance advice. Partner Frank J. Azzopardi and associate Brette L. Trost are providing intellectual property advice. Partner William A. Curran is providing tax advice. Partner Jennifer S. Conway is providing executive compensation advice. All members of the Davis Polk team are based in the New York office.