Pursuits
Redbird Reaches Agreement to Buy AC Milan From Elliott
AC Milan with the Serie A Scudetto trophy in in Reggio nell'Emilia, Italy, on May 22.
Photographer: Chris Ricco/Getty Images
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Redbird Capital Partners has reached a final agreement to buy Italy’s AC Milan, the seven-time European football champion once owned by former Prime Minister Silvio Berlusconi, according to people familiar with the matter.
Redbird is set to announce the purchase of the club from U.S. investment fund Elliott Management Corp. as early as tomorrow, the people said, asking not to be identified because discussions are private. The transaction may value AC Milan at about 1.2 billion euros ($1.3 billion), the people said.