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AC Milan

CorSport: RedBird clear to buy Milan


AC Milan could be set to enter yet another new era as RedBird capital are closing in on taking the club over, according to a report.

As the celebrations after the Scudetto win continue, Corriere dello Sport (via MilanNews) report that the issue of the sale of the club continues to hold weight in the offices of Casa Milan and at the headquarters of both Elliott Management and RedBird Capital.

RedBird founder Gerry Cardinale has found himself as ‘the only contender for the throne’ because Investcorp announced yesterday that they have withdrawn from the negotiations to buy Milan.

The problem with the Investcorp talks was above all finding an agreement on the financial structure and on how the payments would be made, as Elliott felt no guarantees and hesitated on sealing everything.

Between RedBird and Elliott there was harmony right from the start because the former made it clear that there is the possibility that Elliott could remain with a stake to give continuity to the project.

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In the end, their offer was even higher than that of the Bahrain fund: €1.3bn which can even reach €1.8bn with the achievement of certain conditions. These seem to be linked above all to the new stadium, which RedBird are very keen.

Cardinale also aims to establish collaborations and partnerships with the stars of American sports, but for the time being he must get everything over the line and acquire the club.



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