AC Milan: Club sale may be completed this week

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According to Reuters, the acquisition of AC Milan should be signed this Friday between current owner Elliott Management Corporation and Investcorp, an investment fund based in Bahrain. The Lombard club would then move into a new era, becoming one of the wealthiest in Europe.

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AC Milan sales are picking up. According to sources familiar with the matter, Elliott Management Corporation, the owner of the Lombard club since 2018, may this week accept a takeover offer made by an investment fund based in Bahrain, the Reuters agency reports.

The company Investcorp, which will take control, will allow AC Milan to be one of the richest clubs in Europe. Foreign investors are in any case interested in lower valuations than Premier League clubs or other major European teams.

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The purchase is estimated at 1.18 billion euros

An agreement could soon be reached for purchases of up to 1.18 billion euros, including debt. The signing expected this Friday will be the first acquisition of a major Italian club by Middle Eastern investors. Spokespersons for Elliott and Investcorp declined to comment.

AC Milan, long controlled by Italian Silvio Berlusconi, will change ownership again. In 2018, Chinese businessman Li Yonghong violated some of his commitments and handed over control to Elliot Management Corporation. Since then, the American company has been responsible for restoring the club’s finances.

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On its website, Investcorp describes itself as “one of the world’s leading managers” enabling families in the Middle East to invest their money in alternative investment opportunities. From a sporting point of view, the investment fund will recover a club that has returned to the forefront of Italian football, currently leaders of Serie A, after 34 days.

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