There continues to be a lot of speculation suggesting that AC Milan are close to being taken over by Bahrain-based fund Investcorp.
MilanNews, Bloomberg and Reuters are among the sources to report that the negotiations between Milan and Investcorp over the transfer of majority shares is proceeding quickly, given that the parties have been discussing and exchanging documents for weeks.
Investcorp are happy to pay the €1bn asking price after first contacts between the parties started a month ago, and due diligence was completed in the last few days. Elliott’s time as owners may be coming to an end therefore, and they deserve credit for their role in things.
They saved Milan from bankruptcy in the summer of 2018 after Yonghong Li’s tenur and brought the accounts back to being stable, clearing debt and ultimately making the club very attractive to potential buyers.
We reached out to Firas El-Amine who is a managing director for Investcorp, and he remained coy on the subject as expected: “We currently have no comment on the matter.”