The new Italian soccer champions AC Milan have a brand new proprietor after RedHen Capital Partners purchased a controlling stake within the membership for a reported €1.2 billion
The new Italian soccer champions AC Milan have a brand new proprietor after RedHen Capital Partners purchased a controlling stake within the membership for a reported €1.2 billion
U.S. funding agency RedHen Capital Partners has agreed a 1.2 billion euro ($1.3 billion) deal to purchase Italian soccer champions AC Milan, the membership stated on Wednesday, whereas present homeowners Elliott Advisors UK Limited will retain a minority funding.
The transition to new possession will happen over the summer season, with an anticipated closing of the deal no later than September, the membership assertion added.
Milan have simply received the Italian Serie A league title for the primary time in 11 years.
“We are honoured to be a part of AC Milan’s illustrious history and are excited to play a role in the club’s next chapter as it returns to its rightful place at the very top of Italian, European and world football,” RedHen founder and managing accomplice Gerry Cardinale stated in an announcement.
RedHen is already an investor in Fenway Sports Group, the proprietor of Liverpool FC and the Boston Red Sox baseball crew. RedHen additionally has a controlling stake in French soccer membership Toulouse.
“RedBird’s investment philosophy and track record in team ownership has shown that football clubs can be successful on the pitch and sustainable off it,” Mr. Cardinale added.
Source: www.thehindu.com
