Investcorp’s attempts to buy AC Milan from Elliott Management seem to have lost momentum for one key reason, according to a report.
As reported by Corriere dello Sport (via MilanNews) this morning, Elliott are not eager to sell Milan. They will listen to the offers that arrive because there is the possibility of making a large capital gain, but they also believe that there is the potential for the club to grow even further and generate more revenues.
Another reason is that Investcorp – the main fund in the race to buy Milan – are encountering difficulties in preparing a financial structure that can convince the current Rossoneri ownership, and the American fund will only sell if the right guarantees are in place.
The problem they are having is in finding minority shareholders but above all they plan on using bridging loans that would count against the club accounts as debts, which have had their debts cleared by Elliott.