One Bahrain based private equity firm is in the limelight nowadays because this company is planning to buy seven-time European champion AC Milan and become the Italian league’s first Middle East investor; this news came from a person with knowledge of the process stated.
According to The Sources, Investcorp’s takeover may see the Serie A top sold for roughly 1 billion euros ($1.1 billion). Because they were not allowed to reveal details of the confidential negotiations, which began this month, the source spoke on the condition of anonymity.
The U.S.-based barrier firm Elliott Management has held Milan since 2018 after the former Chinese owner failed to repay part of a loan. Milan refused to comment, while club director Paolo Maldini stayed tight-lipped about the deal on Friday before the team’s 2-0 win over Genoa.
According to Maldini, “I know little; it is normal that there could be a sale in the future of Milan, but I am not aware of the dates.”
“A few rounds are remaining, and I think it is in the interest of everyone to try to win this championship.”
“Investcorp” is the industry that was founded in Bahrain in 1982, delisted from the Bahrain stock exchange in 2021 after almost four decades as it continues its global expansion of investments.
However, Investcorp executive chairman Mohammed Alardhi was also the part of discussions with Milan, the person who knows everything about this said.
With all offices in the Middle East, the US, Europe, and Asia, Investcorp has assets valued at more than $37 billion, including corporate investment, real estate, and hedge funds.
The possible seizure comes with Milan on top of Serie A with five games remaining. Milan looks to win the first title since 2011 and a 19th overall, after a period of domestic dominance by Juventus broken by crosstown rival Inter Milan only last season.
The duo of Milan clubs will share the San Siro stadium, and now, they are also planning to build a new stadium jointly as a part of “The Cathedral” project.
AC Milan is likewise searching for financing to help the team back to European football’s peak, having not won the Champions League since 2007, when former Italian Prime Minister Silvio Berlusconi owned it. After a seven-year hiatus from the lucrative UEFA tournament, the club, including Swedish superstar Zlatan Ibrahimovic, was eliminated in the group round in December.
Milan said debts of around 100 million euros in the last financial year, to June 2021, as the club reported pandemic-impacted losses halving to 96.4 million euros.