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Thursday, March 23, 2023

Investcorp near €1bn acquisition of AC Milan

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Investcorp are in advanced talks with Elliott Management over the purchase of AC Milan and could be the club’s new owners at the end of the season.

AC Milan could be in the ownership of Bahrain-based private equity group Investcorp by the end of this week, according to reports.

Italian financial paper Il Sole 24 Ore is reporting that Investcorp are on track to sign the contracts in the coming days.

Investcorp currently has offices in the United States, United Kingdom, Saudi Arabia, Qatar, UAE, India, China and Singapore and has more than $37 billion of funds under management.

Media entrepreneur and former Italian Prime Minister Berlusconi sold the club to Chinese investor Li Yonghong in 2017 for €740 million, including debts, before US-backed venture capitalists Elliott Management later took control. The club is priced at about €1 billion.

Elliott took over the club in 2018 when Yonghong defaulted on the repayment of part of a €300 million package he used to finance the purchase of the Rossoneri from Berlusconi.

AC Milan are currently top of Serie A, two points ahead of Inter Milan with four games to play, though Inter have a game in hand.

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