A week after winning the Scudetto, AC Milan looks like it’s about to go through another big change. RedBird Capital, an American private investment firm, signed a preliminary deal to buy the club on Tuesday. Gerry Cardinale, who started the company, looks like he is about to become the new owner of the club. La Gazzetta Dello Sport says that the official announcement should come in the next few hours. After that, it will take a few more weeks for the deal to be officially closed, which will prove that the club has changed hands. Elliott Management Corporation, the club’s current owners, took over in the spring of 2018 when Chinese owner Yonghong Li’s financial problems forced him to give up control. Elliott Management Corporation is expected to keep a small stake in the club.
RedBird Capital, which is based in the United States, is not new to European soccer. They have been linked to buying a number of clubs, and they now own Toulouse, a club from Ligue 2 that won promotion to France’s top league. RedBird also has money in Fenway Sports Group, which is the group that owns the Boston Red Sox and Liverpool.
Milan, on the other hand, just won their first Scudetto in 11 years. They will likely try to use their return to the top of the table to cement their place back among the best soccer teams in Europe. A change in ownership would make people wonder if the management team, which includes legendary Milan player Paolo Maldini, would stay in charge or if RedBird would try to bring in their own management team.