RedBird Capital Partners, the US private equity firm that holds an 11 per cent stake in Liverpool owners Fenway Sports Group, are expected to close on their deal to acquire Italian giants AC Milan in the coming weeks.
The New York-based firm, founded by managing partner Gerry Cardinale, reached an agreement to acquire the Serie A champions from current owners Elliott Management back in June in a deal worth €1.3bn (£1.1bn). Contracts were signed and full control was set to begin from September, with Elliott Management retaining a minority shareholding as part of the deal.
According to Italian newspaper Gazzetta dello Sport, the deal could close even sooner, potentially by the end of this month, with Cardinale likely to head to Milan for the closing and potentially in the stands at the San Siro as owner in time for the derby clash with Inter Milan on September 3.
