U.S. investment firm RedBird Capital Partners has agreed a 1.2 billion euro ($1.3 billion) deal to buy Italian football champions AC Milan, the club said on Wednesday, while current owners Elliott Advisors UK Limited will retain a minority investment.
The transition to new ownership will take place over the summer, with an expected closing of the deal no later than September, the club statement added.
Milan have just won the Italian Serie A league title for the first time in 11 years.
