The ‘rossoneri’, who needed just one point in this last game, did not let the ‘Scudetto’ escape. They arrived leaders on this last day, with a two-point advantage over Inter Milan (2nd), who fulfilled their part of the job by winning 3-0 against Sampdoria (two goals from Joaquín Correa), but the victory of their neighbors prevented from revalidating the title in Italy.
The other novelty is that Milan has a new owner. US investment fund RedBird Capital Partners reached a preliminary agreement to buy the Series A club after Investcorp withdrew its offer. According to Il Sole 24 Ore, Redbird will buy the club in a deal valued at €1.3bn. Elliott Management, the current owner of the club, will retain a minority shareholding in the club.
RedBird is an American investment fund established in 2013 by former Goldman Sachs banker Gerry Cardinale, who presented an offer of one billion euros at the beginning of the month.
RedBird also has stakes in other clubs, having bought a stake of just over 10% in Fenway Sports Group (FSG), owner of Liverpool during the last
decade, for $750 million last year. The investment fund also acquired
the Toulouse of the Ligue-2 in ju-
July 2020. In addition, it is a shareholder of OneTeam Partners, responsible for the marketing of assets of elite athletes, and entered the capital of XFL, an American football competition.
The Bahrain-based fund Investcorp last Friday suspended negotiations to buy the Lombard club after failing to reach an agreement with Elliott Management, the club’s current owner, after submitting a $1.1 billion offer in April.
The Elliott Management Corporation fund took control of the Rossoneri club in 2018, when it bought it from a Chinese investment group led by Yonghong Li. The manager made an injection of 140 million euros in the 2019-2020 season to mitigate the losses derived from the pandemic, which was added to the 325 million euros that it injected into the Italian club a year earlier. Before Li, the club was owned by former Italian Prime Minister Silvio Berlusconi.
The Rossoneri club closed the 2020-2021 financial year, ending June 30, with losses of 96 million euros, chaining a second course of losses. In the 2019-2020 season, the red numbers were 194.6 million euros.
Source: Ambito
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