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Tag: Investcorp

Steven Zhang, assisted by Goldman Sachs, is looking to buy time to find the money to repay a mammoth loan from Oaktree, which he used to finance Inter.

Inter Owner Working Behind the Scenes to Stay in Charge

October 27, 2023 Enrico Passarella Inter Milan, Italian Football, Serie A, Serie A 2023-2024
Steven Zhang has every intention of keeping ahold of Inter, as he suggested during the recent board meeting. He’s operating quietly to ensure he’s not forced to give up the club, which he used as collateral in a €275M loan from Oaktree. There's no ongoing due diligence.
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Inter closed the last six months of 2023 in the black by €22M thanks to vastly superior income compared to previous seasons.

More Investors Lining Up Ahead of Possible Inter Sale

October 20, 2023 Enrico Passarella Inter Milan, Italian Football, Serie A, Serie A 2023-2024
Finnish billionaire Thomas Zilliacus wouldn’t be the only one vying to acquire Inter if the Zhang family decided to give up the club. Some Saudi families and the American fund Silver Lake are poking around too. The latter was rumored to be keen on a minority stake in the recent past.
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The subjects involved in the affair are keeping things close to the vest, but it is indeed Investcorp that’s trying to take over Inter.

Investcorp Putting Together Proposal to Acquire Inter

September 27, 2023 Enrico Passarella Inter Milan, Italian Football, Serie A
The subjects involved in the affair are keeping things close to the vest, but it is indeed Investcorp that’s trying to take over Inter. They put forth an offer directly to Rain Group, the bank that received the mandate to seek buyers or investors.
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A Saudi fund is concretely interested in taking over Inter. It’s not simply speculation, but it has been conducting the due diligence on their finances.

Chatter Regarding Inter Sale Starts Gaining Momentum

September 25, 2023 Enrico Passarella Inter Milan, Italian Football, Serie A
A Saudi fund is concretely interested in taking over. It’s not simply speculation, but it has been conducting the due diligence on their finances for a few weeks. They could soon lodge a bid to Raine Group, the bank that received the mandate to find buyers.
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Leeds United majority owner and Italian entrepreneur Andrea Radrizzani is probing the possibility of taking over Inter, dueling with Investcorp.

Leeds Owner Reportedly Interested in Buying Inter Too

April 14, 2023 Enrico Passarella Inter Milan, Italian Football, Premier League, Serie A, Serie A 2022-2023
A bidding war might be brewing for Inter, as on top of Investcorp, Leeds United majority owner and Italian entrepreneur Andrea Radrizzani is probing the possibility of taking over the Nerazzurri as well. The situation isn’t straightforward, though. He would need to sell his share of the Whites first.
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After trying and failing to acquire Milan in the past, Investcorp has resumed eyeing Serie A and set its sights on Inter this time.

Investcorp Rumored to Have Inter in Their Crosshairs

April 12, 2023 Enrico Passarella Inter Milan, Italian Football, Serie A, Serie A 2022-2023
After trying and failing to acquire Milan in the past, Investcorp has resumed eyeing Serie A and set its sights on Inter this time. The Bahraini fund is assembling a consortium and collecting money to convince Steven Zhang to give up the team, something he has long resisted despite their well-known difficulties.
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Gerry Cardinale, the CEO of RedBird Capital, is in Italy to finalize the Milan takeover. The American conglomerate will acquire the club for €1.3B.

RedBird Capital on Verge of Completing Milan Takeover

May 31, 2022 Enrico Passarella AC Milan, Calciomercato, Italian Football, Serie A, Serie A 2022-2023
Gerry Cardinale, the CEO of RedBird Capital, is in Italy for a series of meetings to finalize the Milan takeover. The American conglomerate will acquire the club for €1.3B. Current owners Elliott will initially maintain a minority stake of the club.
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Milan’s ownership takeover from Elliott Management to US-based investment fund RedBird Capital is all but sealed, the team announced.

RedBird Capital Becomes Frontrunner for Milan Takeover

May 23, 2022 Enrico Passarella AC Milan, Calciomercato, Italian Football, Serie A, Serie A 2021-2022, Transfer Market
RedBird Capital has surpassed Investcorp as the most likely new owners of Milan. The American conglomerate swooped in late, and Elliott considers their offer more convincing. Their CEO Gerry Cardinale is in town to try sealing the deal.
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The Milan players will have one further motivation in Sunday’s Scudetto deciding game versus Sassuolo. The club has set a considerable bonus if they won.

Milan to Reward Players for Scudetto with Lavish Bonus

May 19, 2022 Enrico Passarella AC Milan, Italian Football, Serie A, Serie A 2021-2022
The Milan players will have one further motivation in Sunday’s Scudetto deciding game versus Sassuolo. The club has set a considerable bonus if they won. Each footballer will get around €200k if they took home the title. The pool will amount to €5M.
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Investcorp has not taken kindly the intromission of RedBird Capital in their attempt to acquire Milan and issued a warning to Elliott.

Investcorp Gives Ultimatum to Elliot as Milan Talks Lag

May 13, 2022 Enrico Passarella AC Milan, Italian Football, Serie A, Serie A 2021-2022
Investcorp has not taken kindly the intromission of RedBird Capital in their attempt to acquire Milan and issued a warning to Elliott. The parties had been negotiating since the start of April. The potential buyers have completed the due diligence.
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Yonghong Li has warned Elliott not to finalize the Milan takeover until their ongoing lawsuit is resolved. It started last year.

Disgraced Former Milan Owner Resurfaces to Halt Takeover

May 11, 2022 Enrico Passarella AC Milan, Serie A, Serie A 2021-2022
Yonghong Li has warned Elliott not to finalize the Milan takeover until their lawsuit is resolved. The initiative is not believed to be a major obstacle, but it may slow down the process. Investcorp and RedBird Capital are vying to acquire the Rossoneri.
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Several initiatives have been put forth to improve football infrastructure in the country, but Italian stadiums, are for the most part, relics.

Milan Head Scaroni Provides Update on Takeover Delays

May 10, 2022 Enrico Passarella AC Milan, Italian Football, Serie A, Serie A 2021-2022
A late offer by RedBird Capital has thrown a wrench in the Milan takeover after Investcorp and Elliott had been negotiating for a few weeks. The two funds are now neck-and-neck to buy the club. The process has inevitably been delayed by the interference. 
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