RedBird has finalized the refinancing of AC Milan, marking Elliott’s exit and Comvest’s entry. The announcement came from RedBird Capital Partners, which emphasized that this move "strengthens AC Milan’s financial structure and consolidates its long-term flexibility."
The club’s statement
"RedBird Capital Partners announces it has successfully completed the refinancing operation that strengthens AC Milan’s financial structure and consolidates its long-term flexibility.
The operation refinances the vendor loan linked to the acquisition – which was originally held by vehicles managed by Elliott Advisors UK Limited ("Elliott") at the time of RedBird’s purchase of AC Milan – replacing it with new institutional financing structured by Comvest Credit Partners.
This refinancing aligns the Club’s capital structure with RedBird’s long-term strategic and operational objectives as the sole controlling shareholder of AC Milan. Following the completion of the deal, Elliott’s Managing Partner, Gordon Singer, and Associate Portfolio Manager, Dominic Mitchell, will step down from AC Milan’s Board of Directors. No other changes have been made to the Board or management, ensuring continuity in the Club’s governance and day-to-day operations."