Investcorp are in talks to buy AC Milan from Elliott Management but the negotiations have slowed down in recent days. This has upset the Bahrain-based fund which now has issued an ultimatum, several reports claim.
The matter was first reported by Gazzetta Dello Sport (read here) and has been confirmed by the reliable MilanNews this evening. Per the latter report, Investcorp have put €1.2bn on the table and want to complete the deal very soon.
Due diligence has been completed by Investcorp and they found no critical issues, hence the will to close a deal as soon as possible. The €1.1bn offer of the American firm RedBird Capital, however, has caused an unwanted delay.
It remains to be seen how the saga will end but it’s becoming clear that Elliott Management are evaluating the offer of RedBird as well. In any case, Milan will almost certainly have new owners next season.
