Investment fund ‘Investcorp’, based in Manama (Bahrain), is negotiating with Milan to acquire the ‘Rossonero’ club for close to one billion euros.
This was confirmed on Monday by the Bahraini Embassy in the United Kingdom via its social networks: “Investcorp, the Bahrain-based asset manager, has entered into exclusive talks to buy Italian club AC Milan, from in Serie A, at a cost of 1.1 trillion dollars (one billion euros).
‘Investcorp’ is negotiating the transaction with ‘Elliot Management’, another investment fund that currently owns the club, which is owned by American Paul Elliot Singer. The Arab fund, according to Italian media, intends to continue the line of work carried out by ‘Elliot’ so far, where Paolo Maldini, Director of the Technical Area, will retain his position, among other directors of the entity . .
In addition, as reported by ‘La Gazzetta dello Sport’, ‘Investcorp’s intention is to launch the Milanese team back into the elite so that they can compete to lift the‘ Scudetto ’–which they have not won since 2011- and the Champions League.
To achieve this, the fund will provide 300 million euros for the summer transfer market, where Spaniard Marco Asensio could be one of the first transfers of the new project.
Milan is also in the midst of negotiations for the new San Siro with the Milan City Council, but according to this newspaper, it will not influence the contract. The Bahraini fund will also take care of matters related to the matter, although it may request a redesign of the new stadium to make it “bigger”.
Negotiations and, therefore, the change of owner of Milan, could be completed before the end of this month of April.
Source: La Verdad
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