MILAN—Less than two weeks after celebrating AC Milan’s league title win with thousands of fans, Gerry Cardinale is on the verge of becoming the new owner of the storied Serie A club.
Cardinale is the founder and managing partner of American investment firm RedBird Capital Partners, which has signed a preliminary agreement to buy Milan for 1.2 billion euros ($1.3 billion).
Milan said Wednesday that RedBird is expected to complete the purchase from fellow American firm Elliott Management by September at the latest. The announcement comes 10 days after Cardinale was pictured joining in celebrations in Piazza del Duomo, in front of the city’s iconic cathedral, after the Rossoneri clinched the scudetto….