Investcorp on track to sign Milan takeover contracts on Friday

According to the latest reports in Italy, Investcorp could sign the contracts for their €1.1bn take-over of Milan by Friday April 29.

The companies are already in advanced negotiations and in a two-week period of exclusivity during the due diligence, with a hope to complete the closing by early May.

Now Il Sole 24 Ore, the Italian equivalent of the Financial Times, reports that Investcorp are on track to sign the contracts in the Milan headquarters by Friday April 29.

Several of the initial obstacles have already been resolved ahead of schedule and they are moving quickly towards a conclusion.

Investcorp are a sovereign investment fund based in Bahrain, including figures who are also involved in the ownership of Manchester City.

The current Milan owners are Elliott Management, a US investment fund who essentially repossessed the club in 2018 when Yonghong Li failed to keep up repayments on a loan he had used to purchase the Serie A giants from Silvio Berlusconi.