Football: owner of TFC, RedBird buys AC Milan
The American investment fund RedBird Capital Partners, which arrived in Toulouse in 2020, offers itself the Italian champion.
The Americans of RedBird Capital Partners continue their expansion in Europe. After buying 85% of the shares of Toulouse FC from Olivier Sadran in 2020, the American investment fund is about to become the majority owner of AC Milan, recent Italian champions.
Read also :
Football: RedBird, owner of TFC, is in the race to buy AC Milan
The boss of RedBird, Gerry Cardinale, signed this Tuesday, May 31 the pre-contract with the future ex-owner, another American investment fund, Elliott Management, which had not planned to commit over time. Having arrived at the head of the “rossoneri” in 2018, Elliott will still retain 30% of the club’s shares, against 70% for RedBird. The sale should be finalized at the end of the summer, in August or September.
1.3 billion euros
To afford ACMilan, winner, among other things, of 19 Italian championships and 7 Champions Leagues, RedBird would have deposited 1.3 billion euros on the table. Also invested in a minority in Liverpool, here is now the investment fund deployed in three clubs and three European countries. It is difficult to say, at present, what the consequences of this takeover will be for the TFC, but it is possible that the common banner could facilitate certain rapprochements, via player loans for example.
Read also :
TFC: “No need for the money of the shareholder RedBird for three years” assures the president Damien Comolli
While the TFC will be one of the lowest budgets in L1 next season, Milan, for its part, has great ambitions following its return to the fore. The sporting director, Paolo Maldini, wants to settle permanently in Europe and play the leading roles. RedBird, meanwhile, intends to develop a project that goes beyond football in Lombardy, particularly on the media and communication aspect, to strengthen the image of AC Milan internationally.
Read also :
The TFC in Ligue 1: what role will RedBird play?