According to reports, AC Milan is close to changing ownership, but it will not be Investcorp that buys the club from Elliott Management.
According to sources from Il Sole 24 Ore, the American firm Elliott will sell to RedBird Capital, which beat off Investcorp with an offer of €1.3 billion in the last few hours and is now close to completing the contracts.
The charge they pay for Milan might climb to €1.8 billion in coming years based on a range of processes, and while the financial structure has yet to be determined, RedBird is placing €600 million in equity on the table, with a significant loan – repayable over five years – being considered.
Even if the current owners of Milan, Elliott, have not made any public pronouncements, they should still be considered part of the club. Things are anticipated to pick up significantly in the next hours and days.