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AC Milan purchase: RedBird Capital near deal to buy Serie A club, Investcorp bid 'suspended,' per reports

Fri, May 20, 2022
Soccer News (AP)

It's a crucial week for the future of AC Milan. While Stefano Pioli's team is one step away from winning their first title since season 2010/11, the club might also have a new owner in the coming weeks. Talks with Bahrain-based Investcorp have stalled since the end of April and are now suspended, as reported by Reuters. Right now the current frontrunner to buy the club is RedBird Capital, the American private investment firm based in New York City and founded by Gerry Cardinale.'

Milan's recent ownership history is a complicated one. The Elliott Management Corporation (current owners) took over AC Milan in the spring 2018 after Chinese owner Yonghong Li faced financial challenges forcing control to change hands. Now, in a matter of days, it will be determined if RedBird Capital is a serious potential buyer or not. As "Il Sole 24 ore" reported on Friday, the two parties are close to an agreement which could see a deal for around 1.3 billion euros. The closing of the deal could be as soon as at the end of the month after the end of the current season.

The America based RedBird Capital is no stranger to European soccer. They've been linked with purchases of numerous clubs and currently own Toulouse, a Ligue 2 club that won promotion to the top division in France. RedBird is also an investor in Fenway Sports Group, the Boston Red Sox and Liverpool ownership group.

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