U.S. investment firm Redbird buys AC Milan from Elliott: report
The Italian side was one of Europe's top clubs under the previous ownership of former Italy Prime Minister Silvio Berlusconi.
Published : May 31, 2022 18:04 IST
The U.S. investment firm RedBird has bought Serie A champion AC Milan from the U.S. fund Elliott after a deal was reached in the last few days, ANSA reported on Tuesday.
Asset manager Investcorp had also been in the running to buy seven-time European champion Milan earlier this month but it could not agree on certain terms, paving the way for Redbird to pursue a deal.
RedBird declined to comment on the report.
Italian newspaper Il Sole 24 Ore reported earlier this month that Redbird was nearing a deal worth about 1.3 billion euros ($1.39 billion) to buy Milan.
The Italian side was one of Europe's top clubs under the previous ownership of former Italy Prime Minister Silvio Berlusconi.
RedBird, already an investor in Fenway Sports Group, the owner of Premier League club Liverpool and the Boston Red Sox baseball team, also has a controlling stake in French football club Toulouse.
Milan clinched its 19th Serie A title on the final day of the season -- its first Scudetto in 11 years.