AC Milan are in the middle of the Scudetto race with just two games remaining and despite this, the focus currently isn’t just on the pitch. In fact, the Rossoneri could have new owners for next season.
Over the last few weeks, the Bahrain-based fund Investcorp have been in talks with Elliott Management over a Milan takeover. However, as their exclusivity expired, US-based RedBird Capital decided to join the race as well.
Recent reports have suggested that Elliott Management aren’t fully satisfied with Investcorp’s offer due to the funding of the deal, something that Il Sole 24 Ore journalist Carlo Festa has somewhat debunked.
On his Twitter profile this evening, the journalist described the recent rumours as ‘funny’ given the following: “Those who know about finance also know that no offer is entirely equity and that often the equity arrives by other means, financed by banks on higher floors”. In other words, RedBird also intend to finance their bid with loans.
Festa added that it’s clear that Elliott are keen on getting the most out of the sale, using the sale of Chelsea as a precedent: “The certainty is that Elliott – given the crazy sale of Chelsea – want a raise. Without it, they will keep the club”.
What did I say? Elliott hillbillies are using flea market tactics to squeeze some more money out of Arabs.
I agree with you, end of day they are in it fir the money but Italy is not England and I am sure they know that.
Yeah but I think Serie A is slowly growing. For example this year proved that Juventus dominance is completely over. So next season Serie A could be more competitive is there is more money to be invested.
Yes, it is crazy that a seller would want to maximize the profits of an asset during a sale! Those crazy “hillbilly” business people!
Most of the commenters here wear red and black color glasses. Can’t phathom that business is business. Hedge funds don’t make money by being nice. Profit maximization is same in Italy as it is in England
Exactly! I don’t blame them for attempting to extract more from the bids. Anyone would do the same.
What tactics did they use to sell Chelsea?
As I said before this is all (and should be) about $$$. This garbage about Elliot caring about not leaving the new owners with debt was comical. Elliot only cares who is paying them the most not how the new owners get their $ from or whether they have previous experience running a football club lol. Just like Berlusconi – he didn’t give a shit if Li was going to saddle the club with debt or not – he just wanted to get paid. Elliot is no different. It’s business.
The fun thing is, nobody is to be trusted in business. And this is a business transaction. Elliot wasn’t in for charity, but for profit maximization.
I am worried this will not work out either way, but hope the ’best of the worst’ solution gets on top.
the day before Milan is back on sporty throne newspaper all full with takeover stories. All about the money -. thats sad