AC Milan are expected to change ownership from Elliott Management to Investcorp in the coming weeks, another report has confirmed.
Reuters begin a report by saying that Serie A clubs like Milan have recently become a popular target for overseas investors because they have a lower valuation than Premier League clubs for example, and talks between Investcorp and Elliott are progressing based on a valuation of about €1.18bn.
The reason that it is higher than the initially reported €1bn (and then €1.1bn in recent days) is because this figure is including debt. A source also confirmed to them that the parties could put pen to paper as early as Friday.
Investcorp have a history of ‘turning around upmarket luxury brands such as Gucci and Tiffany’ as per the report and they have over $42bn in Assets Under Management, with vast experience in the private equity, real estate and infrastructure sectors.