The American investment fund RedBird Capital already has an agreement to acquire AC Milan with the current owner of the club, the Elliot fund, also American, for a figure close to $1,300 million dollars.
There is already an agreement between RedBird and Elliott. Both US funds signed the first documents to transfer the Rossoneri club, a kind of pre-contract, according to the Italian media on Tuesday. “This is the so-called ‘signature’, while the closing of the transaction takes longer”, reports the Italian newspaper La Gazzetta dello Sport.
The American Gerry Cardinale founded the company in 2014, which will now lead a project that began in 2014, led by his compatriot Paul Elliott Singer, and which has borne its first fruits this season, with Milan lifting the ‘Scudetto’ for the first time in 11 years.
Three months ago, rumors began about the sale of Milan to the Bahraini investment fund Investcorp, which confirmed the intention to reach an agreement with Elliott for $1,000 millions of dollars. However, during the month of May, RedBird put on the table a higher offer than the Middle Eastern company ($1,300 million dollars) and left Investcorp out of the negotiations.
“We had conversations with Elliott about a possible investment in Milan. As can be the case with ‘premium’ deals, no trade agreement was reached and we mutually decided to end the talks. We wish Milan the best for the next season and beyond”, published the Omani Mohammed Al Ardhi, CEO of Investcorp, on his official Twitter account.