Who is RedBird, the US giant interested in Milan: he has already invested in Liverpool and with the Yankees. But Investcorp remains on pole

MilanNews.it

The negotiation between Elliott And Investcorp for the acquisition ofB.C Milan is proceeding positively: in fact, the due diligence phase (audit) has recently been completed and the next steps include signing (coming soon) and the closing, possibly scheduled after the end of the championship. In the race for the Club from the 7 Champions League, however, a new competitor has entered.

Who is RedBird
It is about RedBird Capital Partnersan American investment firm founded in 2014 by former Goldman Sachs partner Gerry Cardinale, and which, to date, manages $ 4.5 billion of capital mainly in the main vertical sectors of sports, TMT, financial services And Consumers. From ‘strategy‘on the company’s official website, we read that “RedBird invests with an entrepreneurial and company-building mindset, with an emphasis on equity returns over longer holding periods. RedBird’s network of founders and entrepreneurs is key to its investment strategy, and its highly selected of partners are active co-investors who provide scalable capital support “; the society “builds business together with its EFO Network, a group of over 400 members who have found over 1,600 investment opportunities since the company was founded in 2014”. The investment method is very clear: it is based on build-upwhere capital is distributed on the basis of success over time, providing higher returns than traditional leveraged buyouts.

Particular attention to sport
Among the sections of the official website, there is one dedicated to investments in sport which, as the strategy goes, are among RedBird’s priorities. On 20 July 2020, in fact, the company entered the world of football with the purchase of 85% ofl Toulouse (club just promoted to Ligue1), while the agreement with Fenway Sports Group (FSG), owner of the Liverpool, for the purchase of a stake of 735 million dollars; by virtue of this participation, according to SkyNewsUK, it was not possible for RedBird to propose itself to Abramovich as Chelsea buyer.

With a press release dated October 13, 2021, RedBird presented the merger between the “RedBall Association”a publicly traded blank-check company with a focus on sports, media and data analytics, e SeatGeek, US giant of live entertainment (ticket sales, ed), whose customers include Dallas Cowboys, Arizona Cardinals, New Orleans Saints, Brooklyn Nets, Cleveland Cavaliers, New Orleans Pelicans, Major League Soccer and most English Premier League clubs, including Liverpool and Manchester City; to give an example, SeatGeek can be compared to our Vivaticket, an online ticketing platform purchased by Investcorp in 2019.
Still in the entertainment sector, RedBird owns 13% of the Yankee Entertainment and Sports Network, an American pay television regional sports network owned by Yankee Global Enterprises, Sinclair Broadcast Group and Entertainment Studios, Amazon and The Blackstone Group, Mubadala Investment Company and, of course, RedBird Capital, which each own 13%. Furthermore, the founder Gerry Carndinale also helped to train Legends Hospitality (a company operating in the food, beverage, merchandising, retail and stadium sectors serving businesses and entertainment venues) with the New York Yankees and the Dallas Cowboys. Still in the field of technologies associated with sport, RedBird has created theIndia Dream Sportswhich organizes fantasy cricket competitions for millions of Indians

The interest in Milan
In all this, how did your interest in Milan come about? It is still too early to understand if it is all certified, but the news was launched a few hours ago by Mark KleinmanSkyNewsUK reporter, who revealed that RedBird Capital Partners would be willing to snatch Milan from Investcorp with an offer from 1 billion euros.

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Who is RedBird, the US giant interested in Milan: he has already invested in Liverpool and with the Yankees. But Investcorp remains on pole


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