Italy’s top football league Serie A champions AC Milan is set to be sold to US-based investment firm Redbird Capital Partners for $1.3 billion. Both sides have also signed a preliminary agreement in this matter. Milan said Redbird’s partner US firm Elliot Management expected to finalize the purchase of the Italian club by September. This team will have its fourth owner in five years.
Milan won their first Serie A title in 11 years last month. Redbird also has a stake in Fenway Sports Group, which is owned by English Premier League club Liverpool. Gary Cardinale, Founder and Managing Partner, Redbird, said: “We are honored to be part of AC Milan’s illustrious history and look forward to playing a role in the club’s next chapter.
