Sky: Liverpool shareholder RedBird aiming to hijack Investcorp’s Milan takeover

RedBird Capital Partners have approached Elliott Management with an offer to buy AC Milan, attempting to gatecrash Investcorp’s bid.

According to Sky News, RedBird – who are an investment vehicle which owns a stake in Liverpool Football Club’s parent company Fenway Sports Group – are trying to hijack the current talks over the sale of the Rossoneri for a figure over €1bn.

They cite sources in claiming RedBird are trying to prise Milan from the clutches of Investcorp as the Bahrain-based investor have now gone past the period of exclusivity, but it remains possible but they get the deal over the line.

RedBird have invested in plenty of sports-related activities recently such as India’s Dream Sports – a lucrative fantasy cricket competition – and Toulouse FC. They bought a stake of just over 10% in Fenway Sports Group (FSG) – Liverpool’s owner for the last decade – for around $750m.

The report goes on to add how some of the bidders which tried but failed to secure exclusivity to buy Chelsea could switch their attention to other top clubs, including Milan. The figure of the sale would be north of €1bn, and Elliott may soon have a bidding war on their hands.

Tags AC Milan

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