AC Milan Takeover Progresses As Backers and Parties Revealed

AC Milan are in exclusive talks to be purchase by Bahraini investment fund Investcorp from American hedge fund Elliot Management for $1.1 billion in the coming weeks.

MilanNews.it are confirming that Investcorp will be back by the sovereign wealth fund Mubadala Investments from the UAE who hold assets worth over $350 billion. Mubadala also have shares in Investcorp to the tune of 20%.

Il Sole 24 Ore are reporting that Goldman Sachs will be advising Investcorp for the transaction. They also note that some key figures appear to be involved in the talks including the deputy chief executive of Mubadala, the directo of Q National bank and the general manager of Premier Group WLL (private advisor to the King of Bahrain).

Calcio e Finanza are reporting that JP Morgan would be one of the financiers of the operations. Elliot Management are expected to take home a capital gain of about 300 million euros given they have invested about 700 million euros since they took over. The club is expected to sell for about 1 billion euros.