RedBird, who are investors in Fenway Sports Group, the owners of Liverpool and the Boston Red Sox baseball team, agreed a 1.2-billion-euro deal to buy Milan earlier this month.
Italy's heritage authority gave the green light to a proposal to tear down Milan's 1920s-era San Siro arena in 2020, after the teams filed a request to jointly build a new, 60,000-seater stadium. "We've had a lot of experience with stadium projects in the U.S.. Milan and Italy deserve a world-class stadium that houses the best of sports and entertainment on a global scale."