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Sole 24 Ore: RedBird and Investcorp presented similar proposals

Some details regarding Investcorps’s interest in AC Milan, prior to the takeover of RedBird, surfaced earlier today and sparked a debate on social media. However, the two proposals were similar, a report claims. 

Elliott Management had negotiations with both Investcorp and RedBird prior to selling the club but eventually decided to go with the American company. This morning, MFO revealed details of Investcorp’s proposal which sparked a debate on social media.

According to Il Sole 24 Ore’s financial expert Carlo Festa, despite the rumours of this morning, the two proposals were actually quite similar. Investcorp’s proposal included €400-500m cash, financing and a loan from Ares Capital.

The proposal of the Bahrain-based fund was thus similar to that of RedBird, with the difference that they didn’t want to loan from Elliott Management as Gerry Cardinale did. It’s possible that Investcorp wanted to invest more on the market, but the actual takeover proposal was similar to RedBird’s.

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