RedBird nearing €1.3billion takeover of Milan after Investcorp’s reported withdrawal

Elliott Management are taking time before deciding on the next owner of Milan, but they might have found their preferred candidate.

According to a report from MilanNews, RedBird is closing in on purchasing Milan for a reported amount of €1.3billion.

Earlier today, Reuters claimed that Investcorp, the Bahrain-based firm interested in purchasing Milan, had suspended its plans to buy the club as the interested parties could not agree upon certain issues.

The latest report understands that Elliott Management are ready to sell the majority of its stake to the RedBird, with Elliott keeping hold of a minority share in the club.

As things stand, Elliot Management are the owners of 99.93% of the Rossoneri, and the rest of the 0.07% lies with other private investors.

Following the takeover, Elliott are expected to lose the majority. But the report suggests that the potential deal would also resonate with an important continuity at the corporate project level.

As reported previously, Investcorp placed a bid of around €1.18billion to buy the Italian club. But with RedBird pouncing on the deal out of the blue, the American firm has seemingly taken a huge lead in the race.

Jyotirmoy Halder

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