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Bahrain-based fund Investcorp is reportedly close to completing AC Milan‘s takeover for circa €1 billion, while Elliott representatives have declined to comment.
AC Milan could see their ownership change very soon as American investment fund Elliott seems close to reaching an agreement with Investcorp. French paper L’Equipe reported this morning that UEFA are investigating the suspicious links between the Serie A giants and Lille, a French club had been formally owned by Elliott in the past.
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More details are emerging from different sources. Bloomberg says that representatives for Investcorp, Elliott and AC Milan declined to comment, but people familiar with the matter say that talks are ongoing over a $1.1 billion deal (€1 billion).
Another source close to the deal has told Reuters that the deal is close to being completed. The report adds that ‘Investcorp would not comment when contacted by Reuters while the club and Elliott Management did not immediately respond to a request for comment.’
Elliott took control of the AC Milan in 2018 after Yonghong Li defaulted on debt obligations after just one year at the club.