The closing scheduled for September is approaching for the transfer of ownership of AC Milan football club from Elliott Management Corporation to RedBird Capital Partners.
In today's print edition of Italian newspaper La Gazzetta dello Sport, Paul Singer, through Elliott, will be lending Gerry Cardinale's RedBird an amount of 600 million euros which is half of the Rossoneri club's valuation: 1.2 billion euros.
There is an interest of 7% in this deal and Elliott will also benefit by having two representatives on the new board, and they are likely to be Gordon Singer and Giorgio Furlani.
