Red Bird Capital, the American investment firm with a minority stake in Liverpool, has agreed a deal in principle to become the new majority owner of AC Milan in a deal expected to be the second most expensive purchase of a football club in history.
Incumbent owners Elliott Advisor, who bought the club four years ago, have been interested in selling up for several months and had previously seen a period of exclusive negotiations with another bidder, Investcorp, lapse.
That allowed Red Bird to jump in and they are now expected to complete a €1.2bn (£1.02bn) takeover of the Serie A champions by September having “entered into a definitive agreement,” according to a club statement.
