AC Milan will soon be taken over by Investcorp if things go to plan and a report has revealed the status of the accounts that they should inherit.
Reuters report that Investcorp are hoping to reach a full agreement with Elliott Management over the purchase of Milan for €1.18bn by the end of the week with things to be made official at the end of the season.
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Elliott took over the club in 2018 when Chinese businessman Li Yonghong defaulted on the repayment of part of a €300m package he used to finance the purchase of the Rossoneri from Silvio Berlusconi the year before.
A reckless 2017 summer transfer market left Elliott with huge losses to try and clean up that were not helped by the massive drops in revenue through the Covid-19 pandemic, but by the 2020-21 financial year the losses had been trimmed in half from nearly €200m to €96.4m.
The report mentions that Milan are expected to cut their annual loss to about €60m in 2021-22 which is a further improvement, and shows that Investcorp are inheriting a much changed club compared to four years ago.
