According to La Gazzetta dello Sport, Investcorp’s exclusive talks with Elliott over Milan‘s takeover will last two more weeks and CEO Ivan Gazidis could leave if the Bahrain-based fund completes the deal.
The Bahrain Embassy in the United Kingdom confirmed yesterday that talks for Milan’s takeover had begun, although the tweet was cancelled later a few hours later. L’Equipe, Reuters and Bloomberg revealed on Friday that Investcorp had begun exclusive negotiations with Elliott in a potential deal worth €1.1 billion.
According to La Gazzetta dello Sport, the exclusivity period will last for two more weeks and, during this time, Investcorp will also complete the due diligence, an analysis of Milan’s finances. The potential buyers are likely to decide in 14 days and won’t take more time after the end of exclusive negotiations with Elliott.
The same report also claims that Ivan Gazidis may leave the club if Milan’s ownership changes. The former Arsenal chief arrived at at the club in 2018 and has a close bond with Elliott.
Mohammed Alardhi, the executive chairman of Investcorp, congratulated Milan on their win against Genoa on Friday night, but it’s still unclear whether he’ll have an operative role if the Bahraini investment fund buys Milan.