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”.
