MilanNews.it are reporting that AC Milan’s purchase is moving forward quickly and the signing of an agreement could be done next week. Elliott Management will be selling the Italian champions to another American fund, RedBird Capital Partners who are shareholders in Liverpool FC, majority owners of Toulouse and have major sports teams under their belt in the US.
There are key renewals for player and management on hold as a result of the sale process and the new signings needed to elevate the squad this summer must happen soon.
As we reported here, the Bahraini fund Investcorp dropped out of the race to purchase Milan.
Il Sole 24 Ore via MilanNews.it are reporting that RedBird want to transform Milan into a media company to fully exploit the brand of the club. The focus on growing TV and stadium revenues is atop their list of priorities. Milan have already begun taking these steps but have a long way to go to become a true media powerhouse.