Connect with us

Hi, what are you looking for?

Football Reporting
Football Reporting

AC Milan

AC Milan sale – Investcorp put plans on hold to buy Serie A giants

Bahrain-domiciled asset manager Investcorp has put on hold its plans to purchase Italian football club AC Milan, a source with knowledge of the talks told Reuters on Friday.

The source said that in talks with Milan’s owners, U.S. fund Elliott, Investcorp “couldn’t agree with them on the resolution of a certain matter.”

– Notebook: UCL in overhaul with tennis-style knockout change
– Stream ESPN FC Daily on ESPN+ (U.S. only)
– Don’t have ESPN? Get instant access

The source declined to say what had been the stumbling block in the talks, which have been underway for over a month.

Italian newspaper Il Sole 24 Ore reported on Friday that investment firm RedBird was nearing a deal for seven-time European champions Milan worth about €1.3 billion ($1.4 bn).

Advertisement. Scroll to continue reading.

That figure could rise as high as €1.8 bn over the coming years based on a series of targets, the report added.

Spokespeople for Elliott and RedBird declined to comment.

RedBird is already an investor in Fenway Sports Group, the owner of Premier League giants Liverpool and the Boston Red Sox baseball team. RedBird also has a controlling stake in French club Toulouse.

Investcorp had been in exclusive negotiations with Elliott on a deal last month but failed to reach an agreement, allowing RedBird to enter the fray.

Source link

Advertisement. Scroll to continue reading.
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

AC Milan

AC Milan are in one of their most difficult moments since Stefano Pioli took over as head coach of the club, and while the...

AC Milan

Yet another report has claimed that Zlatan Ibrahimovic’s AC Milan return is ‘one step away’ from being fully completed and announced. This morning’s edition...

AC Milan

Nov 30, 2023, 05:00 AM ET Matchday five of the 2023-24 Champions League group stage provided goals galore, comebacks and drama all across Europe....

AC Milan

Stefano Pioli’s position as head coach continues to be the subject of scrutiny, but there are no signs of AC Milan making an immediate...