The AC Milan takeover saga is nearing completion. Redbird Capital Partners have reached an agreement to purchase the Italian giants, according to Bloomberg. The discussions are private, so comments have not been made available, although it is reported that the deal may be announced in the coming days.
AC Milan Takeover is Close to Finished
New Ownership for Serie A Champions
Redbird, of course, is American-based, just like the current owners of Milan in Elliott Management Corporation. The transaction reportedly values Milan at €1.2 billion.
Theoretically, Milan should be in good hands with Redbird as the company is quite experienced in the sporting arena. They manage close to $6 billion in assets, many of which are sports teams. This includes Liverpool, Toulouse, and the Boston Red Sox.
Liverpool are clearly back on top of the football world after previous struggles. Milan are trending upwards as well, as they just won their first Serie A title in over a decade. Redbird’s success with Liverpool indicates good things to come for Milan.
Previously, it looked as if Bahrain-based Investcorp were close to purchasing Milan. Redbird, however, swooped in and took the deal over. Although the struggle was a common theme for Milan for years, the club remained one of the largest brands in football. Now that the product on the pitch matches the popularity of the brand, Milan may be in store for great things in the near future.
Milan are built on a youthful foundation. Stars such as Rafael Leao, Sandro Tonali, Fikayo Tomori, Theo Hernandez, and Ismael Bennacer are all 24-years-old or younger. Clearly, the base of success is already present. Teams tend to spend heavily after a purchase, so that may be incoming for Milan as well. Throw in the fact that the Rossoneri are Serie A champions, they now have more money to spend and are more alluring to star players.