Investcorp Co-CEO Rishi Kapoor has said that the company will leave aside a deal for AC Milan for the time being.
Speaking during an interview with Gulf News (via Milan Eye), Kapoor refused to comment on whether the purchase of Milan from Elliott Management was a done deal or not.
“Is Milan a done deal? At this stage, it’s not possible to comment. But it’s a fact that Investcorp hasn’t had any direct exposure to sporting franchises anywhere.”
He then went on to explain a separate investment that the Bahrain-based company has in the USA. Whilst explaining that, he suggested that Investcorp may not pursue a deal for Milan right now despite previously seeming dead-set on owning the Rossoneri.
“What we do have is an investment in United Talent Agency in the US, which apart from entertainers and artists also represents and works closely with sports personalities,” Kapoor said.
“Through United Talent Agency, we do have a pretty strong appreciation and understanding of how the business operates in the US. And sports is a key component of the entertainment market today. Let’s leave aside any AC Milan deal for now.”
Investcorp emerged in recent weeks as the most likely company to buy Milan from Elliott but reservations over how the deal would be financially structured has slowed proceedings down considerably.
The emergence of RedBird Capital Group as a buyer that could take control of the club without saddling it with any debt also lowered the appeal of Investcorp for Elliott.
