Elliott Management are keen to keep a minority stake in AC Milan when they sell the majority shares to Investcorp, according to a report.
Tuttosport (via PianetaMilan) are reporting today that the exclusive negotiations between Elliott and Investcorp are ongoing and should reach a positive conclusion, but the Singer family’s hedge fund want to hold a minority stake in the Rossoneri.
This is because Elliott are waiting for the green light from the Council of Milan regarding the construction of the new stadium which should arrive after the end of the public debate required by law, so before the end of the year.
Only then would Elliott sell their last shares to Elliott Management and they would do so at an even higher price should the stadium project be approved as planned. It also means that Investcorp would come into full possession of Milan only once they had the certainty of being able to build and run a modern stadium, to maximise revenues.
That means it is a sort of ‘win-win’ for both parties, which means that the €1-1.1bn sale of the club should go through in the coming weeks.