OFFICIAL STATEMENT: AC MILAN APPOINTS MASSIMO CALVELLI AS CHIEF EXECUTIVE OFFICER

AC Milan today announced the appointment of Massimo Calvelli as Chief Executive Officer.

Calvelli brings extensive international leadership experience across global sports, with deep expertise in building and scaling world class sports organizations and commercial platforms. In addition to his role as CEO of AC Milan, Calvelli will continue as CEO International at RedBird Development Group and Operating Partner at RedBird Capital Partners. This appointment reflects RedBird's distinctive model, combining long-term investment ownership with embedded operating expertise to accelerate execution.

Gerry Cardinale, Founder and Managing Partner of RedBird Capital Partners, said, "Since joining RedBird last year, Massimo has distinguished himself as a leader and driver of organizational design that brings people together and establishes a culture of collaboration and professionalism. Massimo has co-led our investment in AC Milan along with RedBird partner David Castelblanco, both reporting to me. Our model at RedBird often requires our senior leadership to go "in house" in our most important investments to ensure best in class execution, especially in situations requiring change and innovation. Massimo has demonstrated an ability to be effective in all these areas as he integrated himself into AC Milan over the last year. The mandate is clear - we will play to win, instead of playing not to lose - in everything that AC Milan touches, but most importantly on the field. The entire organization at AC Milan will now benefit tremendously from his full time appointment and sense of urgency to bring a winning culture and results back to the Club."

Massimo Calvelli said, "The opportunity to lead AC Milan as it navigates this critical moment in its football trajectory as well as within the overall state of Italian football is something I take very seriously and with a profound sense of urgency. The mandate from Gerry is to bring a culture of winning and results both on and off the field back to AC Milan - a culture worthy of the heritage that the Club represents within the European football community and our over 600 million fans worldwide. I've had a full year working collaboratively with the senior leadership of the Club across all functions and have a hands on sense of what needs to be fixed and innovated.  I'm personally excited to work closely with our new Head Coach Rúben Amorim and his team which are already integrated and working well with our existing senior football leadership."

Prior to joining RedBird, Calvelli served as Chief Executive Officer of the ATP from 2020 to 2025, leading a period of significant global transformation for men's professional tennis. Earlier in his career, he held international leadership roles at Nike, Wilson Sporting Goods and Amer Sports. Calvelli began his career as a professional athlete.