RedBird Capital, led by Gerry Cardinale, are close to taking over AC Milan. In fact, the preliminary signing of the contract is expected in the coming days and planning will begin shortly after.
After Investcorp abandoned their pursuit of taking over Milan, RedBird Capital swooped in and an agreement with Elliott Management is now close. The deal should be worth around €1.3bn, potentially rising to €1.8bn based on a few factors.
According to La Repubblica (via MilanNews), Gerry Cardinale is expected to be in Milan between tomorrow and Tuesday. He will first sign the preliminary contract for the takeover and then meet technical director Paolo Maldini, whose contract is expiring.
Everything suggests that both Maldini and Ricky Massara will remain at the club to continue the project that Elliott Management have started. Of course, it remains to be seen what the outcome of the meeting will be. It’s clear that the takeover is just details away, though.
