Investcorp is in advanced talks with Elliott to purchase Milan, and the next couple of weeks will be pivotal. The Bahrain fund is completing the due diligence ahead of its formal offer, and it should not take too long. They will have exclusive rights to negotiate until the end of April, La Gazzetta dello Sport informs.
If everything went right, the closing could take place right after the end of the season. The new ownership would foot the next transfer market window. However, there should not be a dramatic shift in how the team operates in the short term. The Arab investors were drawn to the Rossoneri also because of their shrewd policy, on top of the strength of the brand.
According to the publication, the process started a month ago. Investcorp CEO Mohammed Bin Mahfoodh Alardhi is personally following the negotiation to take over Milan. They already have ties with Italy as they are partnering with fashion brand Gucci, on top of Riva and Dainese.
The Rossoneri’s balance sheets are in order: they cut the losses from €195M to €95M in a year, with a positive outlook for 2022. Investcorp is ready to pay €1B to buy Milan, which would make it the most expensive club yet. The parties were planning to announce the news in late May, but it leaked early. Elliott did not dismiss it, and sporting director Paolo Maldini hinted at it before the previous game: “A sale of the outfit could be in the cards in the future.”