L’Equipe were first to break the story about AC Milan possibly being sold by Elliot Management to a Bahraini investment fund called Investcorp. Investcorp was founded in 1982 and manages over $42 billion in assets across the globe.
Reuters are also confirming the talks between the two entities and note that they are in exclusivity. The reported figure for the acquisition is $1.1 billion which includes all debts of the club. They report that the deal is near completion.
Bloomberg are reporting that Mubadala Investment from the UAE will be backing the bid from Investcorp to acquire Milan. Mubadala are a sovereign wealth fund managing $243 billion portfolio.
The club’s technical director Paolo Maldini when asked about a potential sale said to DAZN via MilanNews.it:
“I know little, it is normal that in the future of Milan there may also be a sale. I don’t know when that moment will be.”