AC Milan To Get A New Owner, Agreements REACHED! [Full Details]
Another takeover in another top league in Europe is expected as an American investment firm is set to buy AC Milan from Elliot Advisors, MySportDab reports.
The American investment firm identified as Red Bird is reportedly ready to buy the Italian Champions from Elliot Advisors with the sum of £1billion.
The Rossoneri won their first and nineteenth Serie A title after eleven years in the 2021-22 Serie A season, with local rivals Inter Milan emerging as runners up.
According to BBC Football, the American investors have reached an agreement with the Elliot advisors on a takeover deal which will culminate in a change of ownership at Milan.
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The new prospective owners reportedly value the Italian giant at the sum of £1billion. MySportDab learns that RedBird are shareholders of Fenway Sports Group, who are the owner of Liverpool.
The Elliot Advisors have been at the helm of affairs at the Italian club for 4 years after taking over from Li Yonghong.
Elliot took over the ownership of the Italian club from the Chinese business mogul when AC Milan was reportedly entangled in serious financial trouble in 2017.
Li Yonghong is said to have defaulted on his financial obligation to former owner Silvio Berlusconi in 2017 and needed to clear the financial package as promised.
Meanwhile, AC Milan had been struggling in the Serie A with a poor run of results and having difficulties qualifying for Europe club competitions.
The Elliot advisors took over the ownership of the club and helped push the Italian team back to its glory days gradually.
The climax of the achievement of the Elliot Advisors is helping the Italian side win their first Serie A title in 11 years.
“In 2018, we inherited a club in financial ruins, although with a great history behind them which led to a mediocre performance.”
Meanwhile, the Redbirds have already expressed their excitement about the opportunity to be a part of the Italian club. They are hopeful of taking AC Milan to the next chapter in their football history and returning to the top hierarchy of European club football.
“We are excited to play a role in the club next chapter and are honoured to be a part of their illustrious history.”
AC Milan have confirmed that the change of ownership will occur in September. AC Milan are 7 times Champions League Champions and have won 19 Serie A titles.