Inititally, InvestCorp entered into exclusivity talks with Elliott Management Corporation to purchase the AC Milan football club. However, due to disagreements on the financial structure, they withdrew from the talks and RedBird found a clear path ahead of them to make a deal with Paul Singer.
Today, as revealed by Gazzetta dello Sport's website, the signings have taken place between the Americans. Gerry Cardinale's RedBird will indeed be the new owner of 70% of the club shares.
According to what is reported by La Gazzetta dello Sport, the legal representatives of Elliott Management Corporation and the team of RedBird have met and reached an agreement. The founder, Gerry Cardinale, will be arriving to Milano in the next few hours.
The strategy of the new owners is clear: they want to increase the presence of technology in the club, meaning: working with the most modern analysis methods in identifying the next big stars who are yet to be unleashed or are under the radar.
As for the marketing plan, though, the plan is to make AC Milan bigger and huge in terms of brand and images. The goal is to make it a media empire like New York Yankees in America.
BREAKING: RedBird’s Gerry Cardinale signs contract for AC Milan purchase
