Series A Champion AC Milan to be sold to RedBird Capital Partners for $1.3 billion

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Italian Series A league champions AC Milan will have new owners, as U.S. investment firm RedBird Capital Partners has agreed to buy the club for $1.3 billion. The deal is expected to be finalized by September. 

AC Milan won the league title for the 19th time last month, but for the first time since 2007.

Zlatan Ibrahimovic of AC Milan celebrates after beating Sassuolo 3-0, securing the Scudetto championship. (Nicolò Campo/LightRocket via Getty Images)

"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," RedBird founder and managing partner Gerry Cardinale said in a statement. 

Elliot Advisors UK Limited, which has owned the club since 2018, will retain a minority stake. 

SALE OF CHELSEA BY SANCTIONED ROMAN ABRAMOVICH APPROVED BY UK GOVERNMENT "When Elliott acquired AC Milan in 2018, we inherited a club with a tremendous history, but with serious financial problems and a mediocre sporting performance," said Elliott managing partner Gordon Singer. "Our plan was simple: to create financial stability, and to return AC Milan to where it belongs in European football. Today, I believe we have accomplished both."

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RedBird is an investor in the Fenway Sports Group, which owns Liverpool, as well as the Toulouse Football Club. 

AC Milan players celebrate with the Scudetto Trophy at the club's headquarters Casa Milan in Milan on May 23, 2022. (Piero Cruciatti/AFP via Getty Images)

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