Italian champions Milan confirm agreement on sale to investor RedBird

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Italian champions Milan have confirmed a deal for their sale to US investment firm RedBird Capital Partners. The club said in a statement on Wednesday that RedBird and current owner Elliott Advisors had reached an agreement, with Milan valued at €1.2 billion euros ($1.29 billion). Milan recently won the Serie A title again after an 11-year wait. RedBird is already active in sports, as an investor in Fenway Sports Group, which owns Liverpool and the Boston Red Sox baseball team. RedBird also holds a majority stake in French football club Toulouse.

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