The asset manager Bahrain Investcorp is in talks to buy AC Milan, the Italian Serie A club.
If materialized, it would be the first purchase of a club of great magnitude from Italy by an Arab fund.
As published this Friday, April 15 Reutersthe purchase Elliott Management Corporation is “a very short time from being finalized” and taking over the 7-time champion of the Champions League.
Different analysts consulted by European media assure that AC Milan’s potential valuation is close to $1 billion, including debt.
Investcorp is not a minor buyer. Currently, The Middle East fund manages more than $40 billion in assets across a diverse range of businesses.
It invests in private capital, real estate, infrastructure, credit companies and strategic capitals.
The Italian club has not confirmed the talks. In dialogue with the press, a spokesman said that AC Milan is “focused on improving the team’s performance on the field of play” and “making the club grow”.
Although Milan won the top title in the Italian league 18 times, it has not been since 2011.
Although you have tried, He was never able to resume the achievements he reached when he was under the leadership of the controversial Silvio Berlusconi and his holding company, Mediaset.
The current owner of Milan is the American Paul Elliot.
Berlusconi sold AC Milan to a Chinese investor named Li Yonghong in 2017 for €750m, including debt. And then it passed into the hands of Elliott.
In April 2021, AC Milan lead the Serie A table, two points behind their classic rival Inter Milan.
The institution that came to win two Champions in this century reported losses of almost 100 million euros in its last fiscal year (ended July 31, 2021).
The previous year it had lost 195 million euros.
Other Italian clubs in the hands of foreigners are Inter Milan, owned by the Chinese company Suning Holdings Group, and AS Roma, owned by the United States company The Friedkin Group.
Fiorentina and Atalanta are also under the command of US capitals.
No presence in Italy, Middle Eastern investors control several major European clubs: Qatari Sports Investments owns French PSG and Manchester City is owned by Abu Dhabi United-Group.
The Saudi Arabian Public Investment Fund bought a majority stake in Newcastle from the Premier in 2021.
Now read:
With this impressive campaign, Puma revealed the new AC Milan uniform
Puma would be the brand that wins from the breakup of AC Milan and adidas
Will European football no longer belong to Europeans? AC Milan is sold to Chinese businessmen