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Updates On Investcorp’s Purchase Of AC Milan From Elliot Management

The deal will likely close but there have been bumps along the way, the next two weeks will be crucial.

Investcorp

Gazzetta dello Sport are reporting that the Bahraini fund Investcorp have issued an ultimatum to Elliot Management over the purchase of AC Milan following rumours that the competing bid from RedBird Capital is preferred. The Bahraini fund are unhappy with the leaks and developments in the negotiations especially around their financing of the deal. The ultimatum issued is based on the timelines for completion. The fund continue to guarantee that they have all the necessary means to pull off the deal.

Il Sole 24 Ore via MilanNews.it are reporting that Investcorp are looking to partner with an Italian investor for this deal to give their bid more of a local identity.

MilanNews.it are reporting that Elliot remain calm as the value of the club stands and there have been numerous enquiries to purchase the club. They wish to sell on their terms with an offer they deem worthy. It helps their case that the club is fighting for the Scudetto on the final matchday of the season.

As per previous reports, the offer from Investcorp is 1.2 billion euros for the club and they have completed due diligence without any major issues. The exclusivity period between Investcorp and Elliot has ended but any news regarding a sale is expected to be announced at the end of the season so as to avoid distractions for the team fighting for the Scudetto.