Redbird Capital Completes Takeover of AC Milan

The investment company Redbird Capital,

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which has connections to the New York Yankees and Boston Red Sox,

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paid 1.2 billion euros to purchase the Italian powerhouse AC Milan.

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The long-awaited sale, which was officially announced on Wednesday,

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represents a significant windfall for hedge fund Elliot,

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which purchased the Milan club in 2018 after the club’s previous owner Li Yonghong failed to repay the hedge fund for a loan.

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Elliot will continue to own a small portion of the club.

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