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AC Milan is coming into the hands of US investment fund Redford
11:15 am Italian football club AC Milan acquire new owner with American Redford Capital partners. The investment fund receives a brand new national champion for 1. 1.2 billion from Elliott Management, an investment firm that has controlled the Italian club since 2018. That party will still be a partner.
Redford has already invested in the French football club Toulouse in Europe and works closely with Liverpool-owned Fenway Sports Group. The acquisition should be completed by September. Elliott Management bought the Milan club in 2018 and its then-owner, Chinese businessman Li Yonghong, was unable to repay the loan. Until 2017, Silvio Berlusconi was the owner of AC Milan.
At the end of May, Milan won the title of the highest Italian football tournament for the first time since 2011.
NAC Breda is close to acquisition after signing the purchase agreement
10:49 am The acquisition of NAC Breda is increasingly taking shape. General Director Mattijs Manders signed a purchase agreement with investor NAC = Breda on behalf of the club from the first division. The local entrepreneurial group takes over the shares.
The exchange will take place only after the KNVB Football Association’s licensing committee and the Breda municipality approve the sale of the shares. All required documents and information have been submitted to the KNVB, but the NAC says it could take several weeks to obtain approval.
The NOAD Foundation, which monitors the culture of the club known as the ‘Golden Share’, played a key role in the acquisition. The British Federation, which includes Manchester City, has blocked the sale of NAC Preda to the City Football Association and urged a group of local investors to continue selling.
Indian para-athlete banned for cheating in Tokyo discus throw
09:22 hrs Indian para-athlete Vinod Kumar will not be able to compete for the next two years. He was accused of cheating in discus throw at the Paralympic Games in Tokyo last summer. The suspension was imposed by the disciplinary committee of the World Para Athletic Association.
Kumar, 41, competed in the F52 class, which is designed for athletes who can only throw from a wheelchair due to low muscle strength or limited range of motion. According to the audience, Kumar’s movements during the match clearly showed that he was competing in the wrong class. Kumar finished third, but his bronze throw was later declared invalid.
According to the Umbrella Association, deliberate deception was the reason for the disciplinary case. “The ranking system is very important to ensure fair competition and this case shows how committed the world para athletics is to maintaining the integrity of the sport,” said General Manager Christian Holts.
Italian footballer Ciellini chose the American club
07:41 am Italian footballer Giorgio Chiellini continues his career in the United States. The 37-year-old defender has signed a contract with Los Angeles FC in the Major Soccer League, according to ESPN. He is due to sign the contract this week.
Siellini will retire on Wednesday as an international player in the match between Italy and Argentina at Wembley. He has already played his last game for Juventus, in which he played for 17 years, and he is a nine-time champion, five-time Italian trophy winner and two-time Champions League finalist.
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