AC Milan president Paolo Scaroni has declared the club's new owner Gerry Cardinale a "champion".
Cardinale's RedBird Capital exchanged contracts with Milan owners Elliott Management this week, with the club to formally change hands before the end of next season.
Scaroni said: "He is the son of second generation Italian immigrants, he studied in Philadelphia, then Harvard and won the Rhodes Scholarship, the biggest scholarship to go to Oxford and which only is given to two people a year, then he worked 23 years at Goldman Sachs.
"He later also created a fund and bought Milan. And he didn't buy it because he likes to play football, but because it's an important investment. He's a champion."
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