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Liverpool Echo
Liverpool Echo
Sport
Dave Powell

Liverpool and FSG partners RedBird ready to close on AC Milan takeover deal

RedBird FSG AC Milan Milan Gerry Cardinale Tom Werner Investcorp Elliott Management Paul Singer Echo

RedBird Capital Partners are closing in on finalising a deal to purchase Italian giants AC Milan.

The New York-based private equity firm that owns 11 per cent of Liverpool owners Fenway Sports Group have been in the running to takeover the Serie A champions since early May after the exclusivity period between current owners Elliott Management and Bahraini investment fund Investcorp ended without a deal being struck.

RedBird, founded by managing partner Gerry Cardinale in 2014, arrived into the process with a favourably structured deal that required less debt than the deal involving Investcorp, with Elliott Management chief Paul Singer a well known figure to Cardinale through the proximity in New York of the two head offices and their prominence in financial circles in the US.

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