negotiation between Elliot And Investcorp to buyB.C. Milan Going positive: In fact, the due diligence (audit) phase has recently been completed and includes the following steps Signature (coming soon) and CloseIt may have been scheduled after the end of the tournament. But in the race for the club from the seventh Champions League, a new competitor entered.
Who is redbird?
It is located around Redbird Capital Partnersan American investment firm founded in 2014, by former Goldman Sachs partner Jerry Cardinale, which has been managing to date $4.5 billion in capital Mainly in the main vertical sectors Sports, TMT, Financial Services And Consumers. from ‘strategyOn the official website of the company, we read that “RedBird invests with an entrepreneurial mindset and company building, with an emphasis on stock returns over long holding periods. RedBird’s network of founders and entrepreneurs is central to its investment strategy, and its highly selected partners are active co-investors providing scalability and capital support. “; the society “Building business 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 straightforward: it is built on createdwhere capital is distributed based on success over time, providing higher returns than traditional leveraged acquisitions.
Special interest in sports
Among the sections of the official website, there is a section dedicated to investing in sports Which, the strategy says, is among RedBird’s priorities. On July 20, 2020, the company entered the football world by purchasing 85% offor Toulouse (The club has just been promoted to Ligue1), while the agreement with Fenway Sports Group (FSG), owner of Liverpool, to buy a stake of $735 million; Thanks to this participation, again according to SkySportsUK, it was not possible for RedBird to present themselves to Abramovich as a buyer of Chelsea.
Through a press release dated October 13, 2021, RedBird introduced the merger of RedBall Associationa publicly traded blank check company with a focus on sports, media and data analytics, for example come to you, the US giant of live entertainment (ticket sales, editor), and its clients include the Dallas Cowboys, Arizona Cardinals, New Orleans Saints, Brooklyn Nets, Cleveland Cavaliers, New Orleans Pelicans, Major League Soccer, and most Premier League clubs, including Liverpool and Manchester city; For example, SeatGeek can be compared to our Vivaticket, the online ticketing platform that was acquired by Investcorp in 2019.
RedBird is still in the entertainment sector, owning 13% of Yankee Sports and Entertainment Network, a regional sports network for US pay-TV owned by Yankee Global Enterprises, Sinclair Broadcast Group and Entertainment Studios, Amazon, The Blackstone Group, Mubadala Investment Company and of course RedBird Capital each owned 13%. Furthermore, founder Gerry Carndinale also assisted with training Legends Hospitality (a company operating in the food and beverage, merchandising, retail, corporate stadiums and entertainment venues sectors) with the New York Yankees and the Dallas Cowboys. Still in the field of sports-related technologies, RedBird has createdIndia Dream SportsWhich organizes fantasy cricket competitions for millions of Indians
Caring for Milan
In all of this, how did your interest in Milan begin? It’s still too early to understand if everything is certified, but the news was released a few hours ago Mark Kleinmanthe SkySportUK reporter, revealed that RedBird Capital Partners would be willing to snatch Milan from Investcorp with an offer from 1 billion euros.
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