Soccer- RedBird buys Italian champions AC Milan -Breaking
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© Reuters. FILEPHOTO: Soccer Football, Serie A, Inter Milan v AC Milan San Siro Milan (Milan, Italy) – February 5, 20,22. View from the general area of the stadium just before the match REUTERS/Daniele Macolo2/4
MILAN (Reuters). –The U.S. investment company RedBird Capital Partners agreed to buy AC Milan soccer champions, according to the club. Elliott, current owner, will keep a minor investment.
Transition to new ownership is expected over the summer. The deal should close no later than September according to the club statement.
Milan just took the Italian Serie A league title, their first in over 11 years.
RedBird managing partner Gerry Cardinale stated that they are honored to have been a part AC Milan’s rich history. He also expressed his excitement about the future of the club, as the team seeks to return to the top in European, Italian and global football.
RedBird has already invested in Fenway Sports Group. This group is also the owner and operator of Liverpool FC. RedBird holds a controlling interest in Toulouse soccer club.
Cardinale said that RedBird’s track record of team ownership and investment philosophy has proven that football clubs are both profitable on the pitch as well as sustainable.
($1 = 0.9325 euros)
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