Liverpool shareholder RedBird Capital Partners has approached Elliott Management to acquire AC Milan club for €1 billion.
A new player has entered the pitch. RedBird Capital Partners are trying to prise AC Milan club from Investcorp. The Bahrain-based were in an exclusive negotiation agreement with Elliott Management. That period of exclusivity has now lapsed and Elliott can open talks also with other interested parties.
RedBird Capital Partners is a private investment firm focused on building high-growth companies with flexible, long-term capital. In recent years RedBird has become one of the world’s most prolific investors in elite sports and associated technology companies, such as India’s Dream Sports and French top-flight club Toulouse.
RedBird Capital have also bought a stake of over 10% in Fenway Sports Group, Liverpool’s owner, for a reported figure $750 million. FSG also owns the Boston Red Sox baseball team and New England Sports Network.
It is unclear whether RedBird, founded by Gerry Cardinale, are close to securing any form of agreement with Elliott to buy AC Milan reports Sky Sport UK. RedBird have reportedly made an offer of around 1 billion euros to buy AC Milan club from Elliott Management.
Nevertheless, Investcorp remains the frontrunner to acquire the Rossoneri. The Bahrain fund has already completed the due-diligence phase. The parties were expected to reach a full agreement within next week. It’s unclear if the intrusion of RedBird Capital will have an impact on the initial timetable.
What is certain is that AC Milan have become a very appealing option for a number of investors. Since Elliott took control of the club in 2018, the American have zeroed the debt of the club and have build a competitive squad able to challenge for the Scudetto this season.
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