Milan President Paolo Scaroni confirms ‘there are two offers’ for a takeover of Milan, with RedBird Capital Partners challenging Investcorp. ‘It takes time to compare the proposals.’
The club is currently owned by American group Elliott Management, who effectively repossessed AC Milan when previous owner Yonghong Li failed to keep up repayments on a loan he had used to purchase the Serie A side from Silvio Berlusconi.
Elliott had always intended to sell on at a profit, but after the two-week period of exclusivity in negotiations with Investcorp of Bahrain expired, RedBird came in with a new offer.
Both are believed to be in the region of €1.1bn, but RedBird are fast becoming the favourites, as more of their proposal is in equity rather than loans.
“I don’t know of any critical issues with Investcorp,” Scaroni told Sky Sport Italia.
“What I do know is that there are two offers and it takes time to complete the perimeter of the paperwork, understand and compare the two proposals.
“I am not the right person to ask about this, because I run the club that is the subject of the offer, so it is not something that involves Milan.”
Part of the sale will also inevitably revolve around the plans to build their own stadium, whether it is in conjunction with neighbours Inter or by themselves.
“It is a work in progress, but I am optimistic and reasonably certain that Milan will have a new stadium either in the city of Milan or the greater Milan area. There is a public consultation in progress and that will be completed in a couple of months.”