RedBird Capital Partners, the private equity firm that owns 11% of Liverpool’s owners, Fenway Sports Group, will remain committed to its long-term partnership with FSG even if it completes a takeover of AC Milan.
RedBird, which invested $750million in FSG for a stake in John Henry’s empire in March last year, has been heavily linked with a move to take control of the Italian giants in a deal valued at around £840 million (€1 billion). . The interest, first reported by Sky News on Thursday, is rooted in fact, according to ECHO, and the New York-based company is seeking to acquire the club after a period of exclusivity between the vehicle expires. Bahraini investment Investcorp and owners of AC Milan, Elliott Management.
A deal between the two parties could not be reached during this time, and while Investcorp remains committed to an offer to buy the club, RedBird has now sought to show its hand and start talks around the acquisition of the Rossoneri, one of the most legendary clubs in Italian football. .
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Gerry Cardinale, founder and managing partner of RedBird, has made no secret of his desire to acquire more football clubs and grow the company’s sports portfolio, which currently includes ownership of French team Toulouse, the stake in FSG and stakes in Indian Premier League cricket. side Rajasthan Royals and a small stake in second-tier Spanish side Malaga, a deal that could lead to a full takeover but has been held up in court because of a legal row with the former owner who resulted in the management of the club by a judicial administrator appointed for two years. The Malaga problem is not close to being settled and RedBird is not expected to engage further until the legal situation is resolved, ECHO have informed.
Talks between RedBird and Elliott Management are reportedly advanced, but there are no guarantees on timelines or even that a deal will cross the line, with other parties still keen.
But ECHO understands that if a deal is successful, it would not affect the long-term plan for RedBird and FSG, and would not breach any existing UEFA ownership rules. RedBird owns a stake in Liverpool’s parent company, not the club itself, and they have no say in the management of the club or in representatives at board or club level. administration within the club. This means that there would be no conflict of interest, according to UEFA rules, if the two teams participated in the same competition, as they often do in the Champions League.
In March, Cardinale outlined his longer-term investment plan in FSG, telling the Boston Globe, “I would be very disappointed if I did not significantly increase the amount of capital we have invested in Fenway to date. for more opportunities.
“I hope and believe that we will have the opportunity to do that. That’s what buying on this platform should be about.”