AC Milan is owned by RedBird Capital Partners, a New York investment firm led by Gerry Cardinale. It bought the seven-time European champions from the hedge fund Elliott in 2022. In 2026, Elliott is fully out, a new coach is in charge, and the old San Siro is on its way out.
Who Owns AC Milan in 2026?
RedBird Capital Partners is the controlling owner of the club. Wikipedia lists RedBird at about 99.93%, with the last 0.07% held by small private shareholders.
RedBird agreed to buy Milan in June 2022 for about €1.2 billion. The deal closed on August 31, 2022, just after Milan won its first Serie A title in 11 years.
The final piece came in late January 2026. RedBird completed a refinancing that replaced the vendor financing Elliott had provided in the sale. Bloomberg reported the new debt at around $700 million.
Elliott’s Gordon Singer and Dominic Mitchell then left the club’s board. RedBird now describes itself as Milan’s sole control owner.
Ownership and Key Stakeholders Table
| Owner / Party | Role | Stake / Status | Key Detail |
|---|---|---|---|
| RedBird Capital Partners | Controlling owner | About 99.93% | Founded in 2014 by Gerry Cardinale; bought Milan for about €1.2 billion in 2022 |
| Gerry Cardinale | Founder and Managing Partner of RedBird | Controls Milan through RedBird | Took a hands-on role in the 2026 rebuild |
| Yankee Global Enterprises | Minority equity partner | Minority, undisclosed | Parent company of the New York Yankees; joined the 2022 deal |
| Elliott | Former owner (2018–2022) and lender | Fully exited in early 2026 | Vendor financing refinanced; board seats given up |
| Comvest Credit Partners | Lender | Debt only, no equity | Arranged the new financing in January 2026 |
| Li Yonghong | Former owner (2017–2018) | Lost control in July 2018 | Missed a €32 million loan payment |
| Silvio Berlusconi | Former owner (1986–2017) | Sold in 2017 | Led Milan to five European Cups |
| Rúben Amorim | Head coach | No stake | Appointed June 16, 2026 |
Who Is Gerry Cardinale?
Gerry Cardinale founded RedBird in 2014. He is 59, holds both American and Italian citizenship, and is a former Goldman Sachs partner. RedBird now manages more than $15 billion.
Beyond Milan, RedBird owns Toulouse FC in France. It also holds a minority stake in Fenway Sports Group, the owner of Liverpool and the Boston Red Sox. RedBird is a minority investor in the YES Network too, the home channel of the New York Yankees.
In October 2026, RedBird also put about $4 billion toward financing Paramount‘s planned merger with Warner Bros.
How AC Milan Changed Hands
Berlusconi took over in 1986 when the club was in financial trouble. Under him, Milan became a global power and won five European Cups between 1989 and 2007.
In 2017, Chinese businessman Li Yonghong bought Milan from Berlusconi’s holding company for a reported €740 million. He could not pay for it alone and borrowed from Elliott.
After Li missed a €32 million payment in July 2018, Elliott took control. This is the same Paul Singer-founded hedge fund that owns Barnes & Noble. It steadied the club’s finances, and Milan won the 2021–22 Scudetto.
In March 2024, Italian prosecutors raided Milan’s offices. They were looking into whether Elliott’s continued control after the sale was hidden from football regulators. Elliott called the claim false, and the club itself was not a suspect.
The Yankees Connection
When RedBird closed the purchase, Yankee Global Enterprises took a minority equity stake in Milan. The Yankees’ parent company is a partner, but it does not control the club.
A Rough Season and a New Coach
Milan finished fifth in Serie A in 2025–26 and missed the Champions League on the final day. Cardinale responded by firing the CEO, technical director, sporting director and head coach.
On June 16, 2026, the club appointed Rúben Amorim as head coach. His deal runs to June 2028, with an option for 2029. He had been sacked by Manchester United in January after 14 months.
Milan plays in the Europa League this season. Cardinale has said the club will spend in the January window.
A New Stadium and an NBA Europe Dream
In late October 2026, Milan unveiled the Generali Stadium, which will replace the San Siro. The club hopes it will lift revenue the way Tottenham Hotspur‘s stadium did for Spurs.
Cardinale also says he will build a 20,000-seat arena in San Donato. He wants an NBA Europe franchise in Milan.
Milan’s city rival is also under US-linked control now. Inter’s Chinese owner Suning gave up control to lender Oaktree in 2024.
Italian Football’s New Owners
Milan is part of a bigger shift in Serie A. Como is owned by the Hartono family, listed as the richest owners in the league. Roma belongs to Dan Friedkin, who also owns Everton.
American-led groups now run big English clubs too, such as the one behind Chelsea. Cardinale wants Milan to match the financial power of Premier League clubs, a goal he has explained in detail.
Frequently Asked Questions (FAQs)
Q1. Who owns AC Milan in 2026?
RedBird Capital Partners, led by Gerry Cardinale, controls AC Milan.
Q2. How much did RedBird pay for AC Milan?
RedBird paid about €1.2 billion, and the deal closed on August 31, 2022.
Q3. Does Elliott still own part of AC Milan?
No, Elliott fully exited after the January 2026 refinancing.
Q4. Who owned AC Milan before RedBird?
Elliott owned it from 2018 to 2022, after Li Yonghong (2017–2018) and Silvio Berlusconi (1986–2017).
Q5. Does the New York Yankees’ parent company own part of Milan?
Yes, Yankee Global Enterprises holds a minority equity stake.
Q6. Who is AC Milan’s head coach in 2026?
Rúben Amorim was appointed on June 16, 2026.
Q7. What is the Generali Stadium?
It is the new stadium that will replace the San Siro.
Q8. Does Cardinale want an NBA Europe team?
Yes, he plans a 20,000-seat arena in San Donato and wants a franchise in Milan.
AC Milan is controlled by RedBird Capital Partners and Gerry Cardinale, who bought the club in 2022 for about €1.2 billion. Elliott left completely after the January 2026 refinancing, and the Yankees’ parent company holds a minority stake.
The club is now in a rebuild under Rúben Amorim, with a new stadium and an arena plan on the table. For a club founded in 1899, the next few years may be its biggest change since the Berlusconi era.
Official Website: acmilan.com