Milan’s RedBird takeover to be made official tomorrow

Milan have been taken over by RedBird but the move is yet to be officially announced by the club.

MilanNews have reported about the takeover of the Rossoneri, claiming that there is now a preliminary agreement between Elliott Management and RedBird for the club’s sale. €1.3 billion was delivered to Elliot and the deal was finalise earlier today, with Elliot expected to have a minority stake in the Rossoneri.

The official announcement will be done tomorrow, with all the signatures now signed and delivered. This is Milan’s third foreign ownership and their second American ownership since Silvio Berlusconi departed. Investcorp had announced that they have pulled out of talks last week.

La Gazzetta dello Sport have stated that the first issue that RedBird will address is the renewal of both Paolo Maldini and Ricky Massara. In this transition phase, it has always been believed that there would be no particular upheavals in management largely because the same management won the Scudetto with the Rossoneri, despite the recent comments by Maldini and doubts around his future.

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