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RedBird Capital Partners has concurred a 1.2 billion euro ($1.3 billion) deal to purchase Italian soccer champions AC Milan, the club said on Wednesday, while current proprietors Elliott will hold a minority speculation.
The progress to new possession will happen over the mid year, with a normal settling of the negotiation no later than September, the club articulation added.
Milan have recently won the Italian Serie An association title without precedent for 11 years.
“We are honoured to be a part of AC Milan’s illustrious history and are excited to play a role in the club’s next chapter as it returns to its rightful place at the very top of Italian, European and world football,” RedBird founder and managing partner Gerry Cardinale said in a statement.
RedBird is as of now a financial backer in Fenway Sports Group, the proprietor of Liverpool FC and the Boston Red Sox ball club. RedBird likewise has a controlling stake in French soccer club Toulouse.
“RedBird’s investment philosophy and track record in team ownership has shown that football clubs can be successful on the pitch and sustainable off it,” Cardinale added.RedBird buys Italian champions AC Milan
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