The future ownership of AC Milan continues to be one of the most hotly debated topics in the Rossoneri world. Following reports published by the Italian financial outlet Milano Finanza, the possible entry of the Ellison family as a new shareholder has returned to the spotlight. Should the operation materialise, it would significantly reshape the club’s ownership landscape.
Who Are the Ellisons and Why Does Milan Interest Them?
The Ellison family — connected to Larry Ellison, founder of Oracle and consistently ranked among the ten wealthiest individuals on the planet — has reportedly shown interest in acquiring a stake in the Rossoneri. According to Milano Finanza, RedBird Capital Partners, AC Milan’s current owner, is said to be evaluating the sale of a minority stake to third-party investors. The exact size of the potential holding has not yet been publicly confirmed.
The Milan brand, despite a turbulent season, remains one of the most recognisable and commercially powerful in global football. For an investor like the Ellison family — already active in American sport — acquiring a foothold in a European club of this stature would represent a top-tier strategic move.
Three Scenarios Outlined by Legal Expert Raimondo
Sports and corporate law specialist Avvocato Felice Raimondo has analysed the situation and outlined three possible scenarios, each with distinct timeframes and levels of probability.
Scenario 1 – Short-Term Minority Entry
The first scenario involves an immediate acquisition of a minority stake. Many analysts consider this unlikely given the Ellison family’s resources and ambitions. However, buying into Milan now — with the club’s valuation broadly comparable to what Gerry Cardinale paid four years ago, and with the stadium project still in its early stages — would represent a window of opportunity. Entering before the stadium increases the club’s value means doing so at the lowest possible cost.
Scenario 2 – Medium-Term Majority Takeover
The second scenario is bolder: a majority stake acquisition, but only once the new stadium is complete, projected somewhere between 2027 and 2030. Raimondo considers this the least financially logical option. With a new, fully operational ground in place, the club’s valuation could reach or exceed €4 billion, making any acquisition considerably more expensive. Waiting for the stadium before buying in would not make strategic sense for a rational investor.
Scenario 3 – No Deal: The Status Quo Holds
The third scenario — perhaps the most realistic in the near term — is that nothing happens at all. The ongoing complexities surrounding the stadium project — still unresolved between the renovation of San Siro and the construction of a brand-new arena — remain a genuine obstacle for any potential investor. Without a club-owned stadium, Milan is a less attractive asset compared to European rivals who already benefit from modern, revenue-generating grounds.
The Stadium: The True Turning Point
Underpinning all three scenarios is a single common denominator: the stadium. As Raimondo emphasised, and as has been consistently argued, the construction of a new ground is the defining factor for any future extraordinary transaction. A club-owned stadium would transform Milan into a financially self-sufficient entity, capable of independently generating matchday revenue, hospitality income and event-based earnings — bringing it closer to the model of clubs like Real Madrid, Arsenal or Tottenham.
If RedBird succeeds in completing the stadium project, the prospects of attracting new investors — or offloading stakes at favourable valuations — will grow exponentially. Without the stadium, the complexity of any such deal remains high and the window of opportunity narrows.
For more on the Ellison family and the latest ownership developments, read our dedicated piece: AC Milan: The Ellison Family in RedBird’s Sights as Potential Minority Shareholder.
A Pivotal Moment the Rossoneri Cannot Afford to Miss
Beyond the technical scenarios, one thing is clear: AC Milan is at a crossroads in terms of its ownership future. The window to attract serious capital — at valuations not yet inflated by the stadium effect — could close sooner than expected. The Ellison family, with its resources and strategic vision in the world of sport, would represent an ideal partner to accelerate the club’s growth, both on and off the pitch.
The Rossoneri faithful are watching these developments with curiosity and genuine optimism: more resources, greater ambition, and a brighter future for Milan.
