According to Tuttosport, Milan owners Elliott are unhappy with Investcorp’s ultimatum and the two parties seem nowhere near an agreement over the Rossoneri takeover.
The exclusive negotiations period expired at the end of April and Elliott chiefs aren’t entirely convinced about the offer received from the Bahrain-based fund. Although Investcorp values the Rossoneri at nearly €1.2 billion, their offer involves €400m of loans in addition to €800m of equity.
A previous report from Gazzetta dello Sport suggested that Investcorp are pushing Elliott to take a decision soon, but according to Tuttosport, the situation has made the Rossoneri owners unhappy. Elliott representatives are also not impressed by the constant updates provided by Investcorp sources to the media.
The Turin-based paper confirms that talks between the two parties have been put on hold. Liverpool’s minority shareholders RedBird Capital Partners are also in the race to buy Milan and have made an offer in the region of €1 billion.
Lengthy negotiations with any of the two parties may affect Milan’s summer transfers. Paolo Maldini and Ricky Massara (who see their contracts expire in June) will need a clear investment plan and a defined budget to strengthen the team in June, which they can’t have if talks over the club’s takeover are ongoing.