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Preliminary Agreement For American Firm RedBird Capital To Purchase AC Milan

This is a huge turnaround in the events as Investcorp get pipped and the future development of the club changes model.

Ex-Goldman Banker Channels the Hulk for Deals With Billionaires

Il Sole 24 Ore were reporting that RedBird Capital are close to an agreement with Elliott Management to purchase AC Milan for 1.3 billion euros with potential bonuses taking the deal to 1.8 billion euros over the coming years. The same outlet via MilanNews.it are now reporting that Elliott in addition could keep a minority stake in the business.

Bloomberg are now reporting that a preliminary agreement is in place between RedBird and Elliot at the stated 1.3 billion euros for the club and confirmation should arrive next week. The 500 million euro earn-out is a significant factor in favour of RedBird and Elliot will remain as a minority shareholder for a transitional period.

Reuters are reporting that Investcorp put their bid on hold (1.1 billion euros) as there were certain matters where a resolution was missing between the two sides.

A separate report states that Paul and Gordon Singer will likely attend the Milan vs Sassuolo showdown tomorrow as a farewell to the club.