Investcorp have reportedly given Elliott Management an ultimatum regarding their €1.2 billion offer for Milan.
Initially reported by La Gazzetta dello Sport and later added to by MilanNews.it, the Bahraini investment fund are irritated by Elliott’s conduct in the negotiations for the club and the appearance of Red Bird on the scene, who’ve made a €1.1 billion offer.
Elliott reportedly prefer Red Bird’s offer due to the formula of the finances, as Investcorp’s offer involved €400m of loans in addition to €800m of equity. The Bahraini investment fund are now demanding an answer from the American owners and they’re expecting one to arrive quickly.
The talks have been ongoing for a little while now and Investcorp are not keen to lose out to Red Bird, so they’re apparently willing to walk away if there is no definitive answer by the time the ultimatum expires.
There have still been no confirmations regarding this ultimatum and whispers within the club suggest confusion regarding the reports and their origin.