Gerry Cardinale, through his firm RedBird Capital, is in talks with Elliott Management over the purchase of AC Milan. Negotiations are at an advanced stage and there is great enthusiasm, a report claims.
Elliott Management have owned Milan since 2018 and their reign could be crowned with a Scudetto win tomorrow. Indeed, they have done a tremendous job of balancing success off the pitch as well as on it.
According to Corriere Dello Sport (via MilanNews), the interest of RedBird is not a surprise in that sense and an agreement has been reached on the basis of €1.3bn, which could rise. And it wouldn’t be the first investment in sports for RedBird.
Cardinale’s firm owns Toulouse in France and also bought shares in Fenway Sports Group, owner of Liverpool. In addition to football, RedBird are also involved in the NFL, MLB, XFL and more in the United States.
American investors are more and more common in European football, as the report states, and Cardinale’s entrance could help increase the recognition internationally. Furthermore, he’s expected to build on the project started by Elliott.