Investcorp remain the favourites to purchase AC Milan but a competitor have made themselves known to Elliott Management, a report claims.
As reported by MilanNews, the negotiation between Elliott and Investcorp for the acquisition of Milan is proceeding positively after the due diligence phase was completed and the next step should be signing – possibly after the end of the season – but a new competitor has entered.
RedBird Capital Partners are an American investment company founded in 2014 by former Goldman Sachs partner Gerry Cardinale. The currently manage $4.5bn of capital mainly in sports, financial services and consumer sector.
In July 2020, they bought 85% of Toulouse (the club just promoted to Ligue 1) while they also bought a stake in Fenway Sports Group (FSG) who own Liverpool, which cost them $735m. RedBird were not able to enter talks with Abramovich to buy Chelsea, so they have turned to Milan.
Via a press release dated October 13, 2021, RedBird unveiled the merger between the ‘RedBall Association’ – a publicly traded blank-check company with a focus on sports, media and data analytics – and SeatGeek, the US giant of live entertainment, who have recently expanded their operations to include clubs like Liverpool and Manchester City.
RedBird owns 13% of the Yankee Entertainment and Sports Network – an American pay-TV regional sports network owned by Yankee Global Enterprises. Interestingly, Mubadala Investment Company (who are behind Investcorp) also own 13%.
Seems like a lot of teams to manage if they want to add AC Milan to their portfolio. Would like to see a side by side comparison between Investcorp and RedBird in terms of potential investment in addition to the buy clause (potential summer transfer spend available, how long they plan to stay owners, plans for building the team, etc.)
Nooooooo pass
No TY. Stick with Investcorp. Long term owners with bigger pockets
I believe that NOBODY is buying Milan now. The more serious deals will take place by season’s end. Stay focused!