Reuters have reported that Investcorp have pulled out of the race to buy Milan, allowing Redbird to complete the takeover.
Reports earlier today detailed how the American investment firm are prepared to pay €1.3 billion for the Rossoneri, a figure that could rise to €1.8 billion over several years. Elliott Management have done a good job turning the club around following the chaotic post-Silvio Berlusconi era and the team are now on course to win their first Scudetto in a decade.
As reported by Reuters, Investcorp have suspended talks with Elliott regarding a possible Milan takeover and they’ve now pulled out of the race, giving Redbird free space to comfortably close out the deal.
The Bahraini investment fund seemed incredibly close to pulling off a deal for the Rossoneri, but talks stalled regarding the formula of their €1.2 billion offer; €400m of that fee would reportedly come from loans, with the other €800m coming from equity. Elliott were not happy with this idea, having worked hard to balance the books over the last few years.
Milan, Reuters annuncia: Investcorp si tira fuori dalla corsa all'acquisto del club rossonero https://t.co/M9RRDhUOW9
— TUTTOmercatoWEB (@TuttoMercatoWeb) May 20, 2022
It’s Reuters so presumably true this time. Best of luck with your business, Investcorp. Glad it won’t involve Milan.
Amazing news for Milan fans great! No sportswashing no oil money. Redbird very likely to continue running this like a busy balancing the books increasing the brand instead of just throwing money at it.
The last paragraph is what got me….Its exactly what happened with our previous and glad Elliot are looking out. They deserve this scudetto and credit for helping build this team and balancing the books so glad they don’t want to just cash it and throw that all away.
Unfortunate for Milan. Redbird being a US fund will bleed them dry. Middle East owners would have taken a long term view and really committed to taking Milan back to the top.
Redbird is long term investment which with Elliot, as minority holder, will take decades to get Milan back on top. Invest Corp has sponsors power that other don’t have but Mr Singer is $$$$ tight
Being a Middle Eastern myself… Are you always this ignorant & tone-deaf, Rosario?! Ever heard of the concept of a few bad apples?
@Rosario
Elliott is an American Investment firm but their goal was to turn Milan around, polish it up and sell it. RedBird is supposedly a long term investor unlike Elliott. The two don’t compare.
I am skeptical about RedBird if I am being honest… While their purchase formula is more favorable to Milan, it doesn’t guarantee their intentions or a plan of success for Milan. Oil money maybe questionable but it has purchasing power and won’t seem to run out, especially if the fund is backed by the Saudi Royal family.
I suppose both bids aren’t a guarantee for Milan either way, so I am hoping that this works well for our beloved club.
Definitely a positive
“Oil money ” isn’t going to necessarily bring success.
How much have PSG and Man City spent only to get utter FAILURES outside their home country ?
Like Elliott or not, they’ve made Milan use brain’s to acquire most players and made us stick to a plan.
@ Sam No offence but the bad apples are the one’s running these countries and with all of the money. This is not a dig at ordinary Bahranians much like you can criticise Putin without criticising ordinary Russians. I’m with the others. I’m relieved the club is not going to be used for sportswashing.
@Kam you’re kidding right? I dislike both teams but they’ve been guaranteed a trophy almost every season since they got their ‘oil money’ owners. Their value has grown exponentially. They are currently considered world brands. Man City was a mid table team. PSG was not even in the top 50 clubs in Europe. These owners have created a new methodology for clubs to consider in terms of sponsorships and business deals (don’t agree with some of them but still effective).
I think investcorp won’t stop here they will purchase another serie a club I don’t think the Americans have a long term success plan they just want to make profit on milan
@rosario
🪳🪳🪳
@MAD.
🤦🏻♂️
@Maldinis Heir Honestly, this whole discussion of human rights abuses, social/racial issues, money laundry & lately sports washing is all a couple of decades old! Point me in ANY direction you fancy & I’ll easily come back with a comprehensive list of this entity’s/person’s horrible record on any of these issues.
My issue with this Rosario is the fanaticism extending to faith! Yes, sure, some extremists will still interpret their religion, well, surprise surprise, to the extreme! Happens in Islam, happens in Christianity, happens in Judaism, basically anywhere where there’s a group of people believing in a higher power up there. Now signaling out wryly Islam – that’s obnoxious!
@Sam.
Never anywhere in my comments did I say anything about Islam. Where did you get that from? I’ve consistently been critical of the UK for example selling weapons to these tyrannical regimes. I didn’t state one thing about faith 😂 I mentioned miscarriage of human rights, inequality and also both PSG and Man City clearly being found to have laundered money.
@ Sam Saying “they’re all the same” normalises the awfulness of some of these regimes. They’re not all the same. Even Berlusconi was not involved in the sort of human rights abuses we’re dealing with here and of course there’s the issue that these oil rich countries are actively engaged in the destruction of the planet.
@Maldinis heir
The issue is that in return for money, here in Europe the powers that be have done their upmost best to ‘normalise’ relations with these regimes. Over 6,500 migrants have DIED building World Cup stadiums in Qatar. And yet FIFA pretends to care about football. But whilst we can ‘respect’ cultures in other countries, what we can’t respect or accept is the governors of those places using our clubs to legitimise themselves on the international stage.
How is it possible that there is not enough money in Italy to keep Milan‘s ownership in Italian hands. Milan and Lombardia region has many super rich people and companies. Don’t sell Milan to US, Russia, China or Arabs.
@Maximixa
Because regrettably, Serie A is not a money making league. The earnings from TV are humble/mediocre, and clubs have to work extraordinarily hard when it comes to marketing and advertising ventures.
There isn’t the money windfall like the clubs in England get, so investment from people who have wider interests in the country and europe is far more likely. And the situation will become even more difficult with the new FFP rules brought it. It will mean Italian clubs having less power financially when it comes to wages.
@Rosario Are you that smart out there in the real world? Or is it just behind your screen, I do wonder! So yeah, true, you never uttered the word ‘Islam’ but I feel compelled to ask whether you know anything about ‘chopping hands’ you posted about earlier or maybe it’s just a fluke!
And excuse if I don’t keep track of your humanitarian record, it’s not my job! None of my business really! The grandstanding is odd! There’s a place for that, your local ballot box.
@Maldinis heir I’m not sure what exactly are you responding to quoting me!!! An imaginary race to the bottom on whose worse/worst?! Good luck really. I suggest you read once again my reply to you, maybe you’d understand it better. And more importantly, educate yourself A LOT more on the biggest oil producers worldwide nowadays. I bet you’d be amazed.
Oh & Berlusconi, you say? Yeah, he was just involved in trafficking 17 yo girls, no big deal, right?
Finally, to both of you, I admire the delusion you got any say who owns ‘your’ club! It must feel good to be on another planet! I sincerely hope you pay your dues towards ‘your’ club; annual pay TV subscription, merchandise & tickets to the game whenever you can… The whole works. Because if the sun comes up tomorrow WITHOUT your financial contribution, we’re in big trouble.
@Sam
Clearly doesn’t take much to outsmart you though, does it? Confusing criticism of tyrannical regimes for criticism of religion! Something only you brought up!
Perhaps go and commit a crime in Saudi Arabia and see how the law deals with you A. For your crime and B. For being an immigrant!
What on earth has my ballot box got anything to do with middle eastern states killing migrant workers building stadiums?
I don’t pay a tv sub! I hold a season ticket and have done so for the entirety of my adult life!
@Rosario I’m not confusing anything really. If you’re so much informed on KSA’s criminal justice, it’s a walk in the park understanding where your initial ‘chopping hands’ originates from, of which you seemingly have no idea! Marvelous really, another keyboard warrior! Keep shouting. Just have the balls, figuratively, to air your concerns amongst your angry mob in San Siro, at Casa Milan or Milanello instead of the virtual world of the comments section of the very misinformed or whatever you call Football Italia. Good luck
@sam
so you do condone hand chopping? Has the death of over 6500 migrants when building stadiums essentially collateral damage in your eyes? Trying to understand what make you upset in the first place to bring religion into the comment section!
are you saying I should be scared of you? What point are you trying to make exactly?