Redbird buys Milan, Elliott has the minority stake
It’s done: Rebird officially takes Milan. Confirmed then the scoop of Affaritaliani.it, according to which the American fund, with investments in sport for approximately 6 billion dollars, with investments in Liverpool, in Toulouse and in American baseball and soccer teams, he had already been in pole position for some time to take over the Milanese team from Elliott fund.
RedBird Capital Partners and Elliott Advisors UK Limited today announced that they have signed a definitive agreement for the acquisition by RedBird of the Football Association Milanclub new Serie A Champion. The ride at the new ownership will take place during thesummerwith the closing expected by September 2022.
The agreement for the sale of the Milan to RedBird, which values the club 1.2 billion, predicts that Elliott maintains a minority financial stake, as well as its own representatives on the Board of Directors. This is to consolidate a partnership between RedBird and Elliott che “will give continuity to the progress made under the leadership of Elliott in the last four years “. The priority for RedBird” is to continue the work with the sports area and the management of the club to give continuity to the path of the Milanpointing to a return to the top of world football“, reads the statement released by the Rossoneri club.
The statements of Gerry Cardinale and Gordon Singer
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