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AC Milan

Indian investor in talks with RedBird over backing Milan takeover

Exactly one month ago to the day, Elliott announced the sale of AC Milan to the American company RedBird, led by Gerry Cardinale. And the latter has since been looking for financial backing. 

RedBird will close the takeover in September and the deal is worth around €1.2bn. Cardinale has been working on raising funds back in the United States and one of the investors he has been in talks with is Vivek Ranadive.

This was reported by Mediaset, stating that the Indian tycoon is ready to fund part of the money that RedBird need to raise for the takeover. In fact, the feeling is that an agreement could be reached soon and that is positive for Cardinale.

Ranadive is already known in the world of sports as the owner of the NBA team Sacramento Kings. He also made an offer for Chelsea before the club was sold to Todd Boehly, meaning he’s keen to get into the world of football.

The figures of Ranadive’s investment, as the report concludes, are unknown but he could be part of RedBird’s backing.

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