Class CNBC are reporting that the head of RedBird Capital Partners, Gerry Cardinale is expected in Milan this week to finalise the purchase of AC Milan from Elliott Management for 1.3 billion euros. Paul and Gordon Singer of Elliott have been in Italy since Sunday to witness Milan lifting the Scudetto and took part in celebrations across the city yesterday. Elliot are expected to maintain a minority stake in the club as part of the deal.
The purchase of the club will come down to Investcorp from Bahrain and RedBird from the US but it seems the latter have taken charge of the deal.
Milan’s President Paolo Scaroni spoke to Radio RAI via MilanNews.it to say:
“As far as Investcorp is concerned, I have read that they have taken a step backwards, instead RedBird has taken a step forward. The figures we are talking about show that a sporting but also financial success has been achieved. I hope that the negotiation will be concluded before the the real start of the transfer market.”