American investment fund RedBird Capital already has an agreement with the current owner of Milan, as well as American fund Elliott, to acquire the Italian club for close to 1,300 million euros.
There is already an agreement between RedBird and Elliott. Both funds have signed the first documents to carry out the transfer of the ‘Rossonero’ club, a kind of pre-contract, according to Italian media on Tuesday.
“It’s about the so -called‘ signature ’, as the closing of the transaction takes longer,” explains the newspaper La Gazzetta dello Sport.
In 2014, American Gerry Cardinale founded the company that will now lead a project that began in 2018, under the leadership of his compatriot Paul Elliott Singer, and bore the first fruits this season, in which Milan raised the ‘ scudetto ‘for the first time. in eleven years.
Investcorp withdrew
Three months ago, rumors began about Milan’s sale to Bahraini investment fund Investcorp, which confirmed the intention to reach an agreement with Elliott for a billion euros. However, in May, RedBird put on the table a higher offer than the Middle Eastern company and left Investcorp in negotiations.
“We had discussions with Elliott about a possible investment in Milan. As can happen with ‘premium’ deals, no commercial agreement was reached and we both decided to end the talks. We wish you the best in Milan. for the coming season and beyond, ”Omani Mohammed Al Ardhi, CEO of Investcorp, posted on his official Twitter account.
just missing the ad
Now, in the agreement, only the official announcement is missing. Local media suggests it could be confirmed this week.
RedBird Capital already has experience with sports -related investments. The Americans own 85% of French Toulouse, a team that will play in the French first division next season; and 10% of Fenway Spots Group, an American company with assets in Liverpool, as well as the Boston Red Sox (baseball) and Pittsburgh Penguins (hockey).
Source: La Verdad
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