Milan broke negotiations with Investcorp

The executive president of Bahraini fund Investcorp, Omani Mohammed Al Ardhi, officially confirmed on Thursday that he had withdrawn from negotiations for the acquisition of Milan because “an agreement has not been reached” with Elliot Management, the U.S. fund that controls in Italian. club.

“We had discussions with Elliott about a possible investment in Milan. As can happen with ‘premium’ deals, no commercial agreement was reached and we both decided to end the talks. We wish you the best in Milan. for the coming season and beyond, ”Al Ardhi posted on his official Twitter account.

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The aim of the Arab fund is to raise the roof of the ‘rossonero’ team and give it back to the European elite.

Now, after the breakdown of negotiations, the local media has found a new fund interested in buying Milan, RedBird Capital, which would have offered 1,300 million euros, thus surpassing Investcorp’s offer.

This American fund was founded in 2014 by American Gerry Cardinale and has experience in sports investments.

the new candidate

RedBird Capital owns 85% of French Toulouse, a team that will go to the French first division next season after recently achieving promotion, and 10% of Fenway Spots Group, an American company with assets in Liverpool, as well. in Boston. Red Sox (baseball) and Pittsburgh Penguins (hockey).