Football: Redbird, owner of TFC, is in the race to buy AC Milan
The American investment fund RedBird, owner of Toulouse Football Club, could, according to the Italian press, buy AC Milan. The group Elliott Management, current owner of the club, would have received two offers.
AC Milan is on sale. Arrived in 2018 at the head of the club, the American investment fund Elliott Management had planned not to invest in the long term in the club currently first in Serie A.
A few days ago, in the Italian press, and in particular the ANSA press agency, Paolo Scaroni, President Rossonero affirmed that his team was studying two takeover offers: “I understand that there are two offers and it takes time to complete the scope, understand them well and compare them.” We have known since April that Bahrain’s investment fund, Investcorp, is close to the case, although nothing has been made official by the various parties.
The second offer seems to be at the initiative of the American investment fund Redbird, already owner of the TFC and which has allowed the club to go back to Ligue 1. The desire of the Elliott group is clear, to sell the club. As a reminder, this investment fund had inherited the legendary Italian club by a combination of circumstances. Former Chinese owner Li Yonghong cannot repay a loan taken out with the Elliott group. Negotiations could be around 1.3 billion euros.
According to @ilsole_24ore, #Red bird would be about to sign for the purchase of @ACMilan with an offer of 1.3 billion euros, which could increase to 1.8. Elliott would stay in the company ud83dudd04 pic.twitter.com/ma9A9RPVW0
— MilanNews.it (@MilanNewsit) May 20, 2022
Negotiations with Investcorp have been progressing painfully since April, Paolo Scaroni affirmed that he was not aware of the problems encountered: “I am not aware of the problems or critical points.” However, the group’s desire to sell the club could weigh in favor of Redbird, an American investment fund with which negotiations could be faster.
Inter (Chinese), Roma (USA), Bologna (USA), Fiorentina (USA), Milan (Chinese then USA), Venezia (USA), La Spezia (USA) and Genoa (USA), Italian football is indeed the new “Eldorado” for foreign investors.