RedBird about to buy AC Milan?
Is RedBird about to own AC Milan? Sky News affirms in any case this Thursday, May 5 that the shareholder of the TFC has approached Elliott Management, the current owner of the club, to become the majority shareholder of the leader of Series A. The affair could be concluded around one billion euros.
However, an agreement seemed certain between Elliott Management and Investcorp, a Bahraini investor who had obtained an exclusive period to conduct the negotiations. But the deadline has now passed and the other potential buyers, including RedBird, can again come forward.
The British media claims that an agreement could now be reached between RedBird and Elliott Management in the coming days, without saying more about the progress of the discussions. Some groups that have not managed to buy Chelsea, another big club on sale, could also decide to fall back on AC Milan and win RedBird. At this time, neither RedBird nor the other parties have responded to media inquiries.
If the information confirms the desire of TFC shareholders to invest in other clubs, it also questions its intentions. The investment fund had acquired just over 10% of Fenway Sports Group (FSG), the owner of Liverpool, last year for 750 million dollars. Gerry Cardinale had also explained that he would be open to becoming the majority shareholder if the opportunity presented itself. Last August, the club also tried to buy Malaga, a Spanish D2 club, without success.