Bellinazzo: Milan’s new owners should be ‘halfway between’ Elliott and likes of Man City, PSG

By Oliver Fisher -

AC Milan’s probable new owners Investcorp should operate a bit more aggressively than Elliott Management but won’t quite be as expansive as Manchester City or PSG, a journalist told us.

We spoke to Il Sole 24 Ore journalist Marco Bellinazzo about a number of different topics related to the potential change in ownership including Elliott Management’s work to manufacture such a possibility, the background on Investcorp’s interest and what it might mean for the club if the deal did go through. You can read the full interview here.

As part of the interview, we asked if Investcorp (or rather their shareholder Mubadala who are a sovereign fund) have an attitude closer to that of Elliott or the Arab owners of European clubs such as PSG and Manchester City.

“The attitude of the Bahraini fund is a bit halfway between that of sovereign funds that state-control clubs like PSG and Manchester City and that of a hedge fund like Elliott that aims for an economic return, say in the time span of 3-5 years,” Bellinazzo said.

“It is no coincidence that for Investcorp we are talking about an investment with a time horizon of ten years which obviously aims at an economic return but also at an enhancement in terms of sports and image, i.e. winning things.

“This is a fundamental element for Investcorp’s shareholder fund, namely Mubadala, which signed an agreement with the sovereign fund of Bahrain no later than December 2021 and which wanted to invest in sport as a soft-power tool for the reaffirmation of the image of the kingdom in the Western economy.”

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