Bahrain-based fund Investcorp is reportedly close to completing Milan‘s takeover for circa €1 billion, while Elliott representatives have declined to comment.
Milan could see their ownership change very soon as American investment fund Elliott seems close to reaching an agreement with Investcorp. French paper L’Equipe reported this morning that UEFA are investigating the suspicious links between the Serie A giants and Lille, a French club had been formally owned by Elliott in the past.
L’Equipe: Elliott put Milan on sale as UEFA investigate suspicious links with Lille
More details are emerging from different sources. Bloomberg says that representatives for Investcorp, Elliott and Milan declined to comment, but people familiar with the matter say that talks are ongoing over a $1.1 billion deal (circa €1 billion).
Another source close to the deal has told Reuters that the deal is close to being completed. The report adds that ‘Investcorp would not comment when contacted by Reuters while the club and Elliott Management did not immediately respond to a request for comment.’
Pioli’s Milan are in the race to win the Serie A title this season and host Genoa at the Stadio Meazza tonight. Elliott took control of the Rossoneri in 2018 after Yonghong Li defaulted on debt obligations after just one year at the club.
Anche #Bloomberg rilancia la notizia e fissa il costo dell'operazione: 1 miliardo di euro 👇🏻https://t.co/rsS2ZVhtlx https://t.co/o3cGtQ1kcy
— Simone Cristao (@SimoneCristao) April 15, 2022
EXCLUSIVE Soccer-Bahrain's Investcorp in excluse talks to buy AC Milan – source https://t.co/dSSI7FTZUD pic.twitter.com/5y58Vjyl4y
— Reuters (@Reuters) April 15, 2022
I make the $250 million profit for Elliot Management. I hope they get the opportunity to “rescue” another club
Oh Snap! Here We Go!
Investcorp is a global manager of alternative investment products, for private and institutional clients