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Milan passes to RedBird Capital Partners: there is the signing for the acquisition from the Elliott fund

The American investment fund RedBird Capital Partners acquires AC Milan: there is the signing for the acquisition of the majority shares of the Rossoneri company from the Elliott fund

After the Scudetto won on the field two weeks ago, the Milan change ownership. Gerry Cardinalfounder of the fund RedBird Capital Partnershas signed the contract for the acquisition of the majority of Milan from the fund Elliott. “La Gazzetta dello Sport” reports it. The official announcement is expected in the next few hours or tomorrow. The completed operation is that of “signing”, that of signatures, the “closing” real will take longer. The transaction figures should be around 1.3 billion.

Milan changes hands but always remains under the stars and stripes flag. The American fund Elliott took over in 2018 due to the default of Li Yonghong who, in 2017, took over from Fininvest. The fund managed by Paul Singer will in any case retain a stake (around 30%) in the AC Milan club.

It is not the first time that RedBird operates in sport. The company founded in 2014 holds 85% of the Toulouse newly promoted to Ligue1 and 10% of the company that controls the majority of the shares of Liverpool. In the USA it has to do with i Boston Red Socks (baseball), nei Pittsburg Penguins (ice hockey), as well as checking directly Dream Sporta sports platform in India specializing in cricket (national sport).

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