Milan was also the first Italian club to take part to the newly born European Cup in the 1955–56 season, and reached the final two years later, when they were defeated by Real Madrid.

In 1961, Nereo Rocco was appointed as new coach of the club,[32] which under his leadership won immediately a scudetto in 1961–62, followed, in the next season, by Milan's first European Cup triumph, achieved after beating Benfica in the final.

On 20 February 1986, entrepreneur Silvio Berlusconi (who owned Fininvest and Mediaset) acquired the club and saved it from bankruptcy after investing vast amounts of money,[11] appointing rising manager Arrigo Sacchi at the helm of the Rossoneri and signing Dutch internationals Ruud Gullit, Marco van Basten and Frank Rijkaard.

[11] The Dutch trio added an attacking impetus to the team, and complemented the club's Italian internationals Paolo Maldini, Franco Baresi, Alessandro Costacurta and Roberto Donadoni.

[36] The Milan team of 1988–1990, nicknamed the "Immortals" in the Italian media,[37] has been voted the best club side of all time in a global poll of experts conducted by World Soccer magazine.

After his appointment in November 2001, Ancelotti took Milan to the 2003 Champions League final, where they defeated Juventus on penalties to win the club's sixth European Cup.

Milan failed to qualify to European competitions for a few years, and the only trophy won was the 2016 Supercoppa Italiana, achieved under Vincenzo Montella's coaching after defeating Juventus in the penalty shoot-out.

Lux., the direct parent company of the club, making the investment vehicle majority controlled by Elliott Management Corporation the sole shareholder of Rossoneri Sport Inv.

This streak led to Milan abandoning their plans of hiring Ralf Rangnick as their new manager and sporting director, and instead extended Pioli's contract for a further 2 years.

In the Serie A Awards, Rafael Leão was named as the league's most valuable player, Mike Maignan as the best goalkeeper, and Pioli as coach of the season.

[67][68][69] On 1 June 2022, RedBird Capital Partners agreed to acquire AC Milan at $1.3 billion, meanwhile Elliott Management Corporation would keep a minority stake.

They were chosen by its founder Herbert Kilpin to represent the players' fiery ardor (red) and the opponents' fear to challenge the team (black).

Rossoneri, the team's widely used nickname, literally means "the red & blacks" in Italian, in reference to the colours of the stripes on its jersey.

The modern badge used today represents the club colours and the flag of the Comune di Milano, with the acronym ACM at the top and the foundation year (1899) at the bottom.

In the first decade of the 20th century, the Rossoneri's first kit was a simple silk shirt characterized by thin stripes, with the badge of the city of Milan sewn at heart level.

Between the 1979–80 and 1980–81 seasons, the AC Milan shirt achieved an important record by adding the surnames of the players above the number for the first time in Italian football.

Milan's away kit has always been completely white, sometimes adorned with various types of decorations, the most common of which are one vertical or horizontal red and black stripe.

On 11 December 2014, Barbara Berlusconi announced a proposal to build a property stadium of 42,000 seats in Portello, behind the new HQ of the Rossoneri, and the large square "Piazza Gino Valle".

[90] Historically, Milan was supported by the city's working class, which granted them the nickname of casciavid [kaʃaˈʋiːt] (which in Milanese dialect means "screwdrivers"), used until the 1960s.

[92] Milan ultras have never had any particular political preference,[92] but the media traditionally associated them with the left wing[93] until recently, when Berlusconi's presidency somewhat altered that view.

The first match was held in the final of the Chiasso Cup of 1908, a football tournament played in Canton Ticino, Switzerland, on 18 October of that year; the Rossoneri won 2–1.

On the pitch the stage was taken by some of the biggest stars the Italian Serie A could offer: players such as Gianni Rivera, Giovanni Trapattoni and José Altafini for Milan and Sandro Mazzola, Giacinto Facchetti and Luis Suárez for Inter.

Some important periods marked by this rivalry were the early 1950s, which saw the two teams alternating each other as Serie A champions (the two clubs won seven titles in the decade), and big duels between forwards, with the Swedish Gre-No-Li on the rossoneri side and the trio formed by Giampiero Boniperti, John Hansen and Karl Aage Præst on the bianconeri side; the early 1970s, when for two consecutive seasons, 1971-72 and 1972-73, Milan lost the scudetto to Juventus by just one point; the 1990s, when the two clubs dominated the league by winning eight (consecutive) titles out of ten, lining up players that marked the history of football in their era and in the whole history; and finally in the 2000s, when, between the 2004–05 and 2005–06 seasons, the two clubs contested each other the Serie A titles, both won by Juventus but then revoked due to the Calciopoli scandal.

In the film appear, in addition to the coach Lajos Czeizler, many of the Milan players of the time, including Lorenzo Buffon, Carlo Annovazzi and the entire Gre-No-Li trio.

Issued with a monthly cadence, it covered all events surrounding Milan, with interviews to its protagonists, special posters, reports of official and friendly matches.

Milan's fifth European Cup win, in 1994, meant that the club was awarded the trophy permanently and is allowed to display a multiple-winner badge on its shirt.

Legendary tactician Nereo Rocco, the first proponent of catenaccio in the country, was Milan's longest-serving manager, sitting on the bench for over nine years (in two spells) in the 1960s and early 1970s, winning the club's first European Cup triumphs.

Italian Prime Minister Silvio Berlusconi, who purchased the club in 1986, is Milan's longest-serving president (23 years, due to a two-year vacancy between 2004 and 2006).

As a consequence of the aggregate 2.5-year financial result in the reporting periods ending at 31 December 2015, 31 December 2016 and 30 June 2017 (a FFP-adjusted net loss of €146 million, €121 million in excess of the acceptable deviation in the regulation[146]: 9 ), Milan was initially banned from European competitions due to breach in UEFA Financial Fair Play Regulations.

[147] Note: Re-capitalization figures were obtained from item versamenti soci in conto capitale e/o copertura perdite, for 2006 to 2017 financial year Milan took part in three editions of the Superleague Formula, from 2008 to 2010.