AC Milan investor drops efforts to freeze club sale in Italian court

FILE PHOTO: The AC Milan logo is pictured on a pennant in a soccer store in downtown Milan, Italy April 29, 2015. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) -Blue Skye Financial Partners, a minority investor in Italian soccer champions AC Milan, have dropped efforts in an Italian court to try to suspend the 1.2 billion euro ($1.20 billion) sale of the club, legal sources said on Tuesday.

Earlier this month U.S. private equity fund RedBird Capital Partners announced it had closed a deal to buy AC Milan from U.S. fund Elliott.