In addition to Investcorp, RedBird Capital are interested in buying AC Milan from Elliott Management this summer. In fact, further confirmation of the investment firm’s interest has arrived this afternoon.
Investcorp have been in talks with Elliott Management, the owners of Milan, for some weeks now but their exclusivity expired at the end of April. As a result, the American hedge fund has now received another €1bn+ offer as well.
As reported by various outlets and now also the credible Financial Times, former Goldman Sachs executive Gerry Cardinale and his RedBird Capital Partners have opened talks with Elliott. Two people with direct knowledge of the matter, per the report, have confirmed this.
Once again, therefore, Elliott’s tremendous work at Milan has been highlighted as they not only are competitive on the pitch again, but also are in a very good position financially. Redbird, it should be noted, also own a minority stake in Liverpool FC.