Surprise .. the sale of Italian Milan to an American company
Milan announced today that Elliott Fund, which acquired the club, reached an agreement with the American group "Red Bird", to acquire the latter's Rossoneri, in a surprising move for the Italian league champion.
Milan said in a statement on its official website: “Red Bird Capital and Elliott Consultants announced that they have concluded a definitive agreement in favor of Red Bird to acquire the newly crowned Serie A club, and the transfer to new ownership will take place during the summer, with an expected completion date no later than September 2022.” .
He added: "The deal, which values the club at 1.2 billion euros, will see Elliott retain fewer financial interests in the club and seats on the board, strengthening the partnership between Red Bird and Elliott, which will continue to consolidate the progress made over the past four years."
He added, "Red Bird's priority is to work with the Italian champions and the club's management to continue Milan's journey to the top of world football in order to continue its success."
"With a combination of a successful team on the pitch, Milan player development experience and acquisitions, a world-class business process, and Red Bird's experiences operating and building a global sports business, we will ensure that the next chapter in Milan's rich history will take the Rossoneri to other heights."
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