Another big European club might have new ownership in the coming weeks. As reported by Reuters on Friday, Bahrain-based Investcorp has entered into ‘exclusivity talks’ to purchase Italian club AC Milan from Elliott Management Corporation, the current owners of the club. The deal, the report says, is close to being completed.
Milan’s recent ownership history is a complicated one. The Elliott Management Corporation took over AC Milan in the spring 2018 after Chinese owner Yonghong Li had financial challenges and couldn’t keep the control of the club. Despite the turbulence, however, Milan are currently thriving. This year marked their return to the Champions League for the first time since the 2013/14 season and they are currently sitting atop Serie A, leading crosstown rivals Inter Milan by two points. If they were able to hold on and win the Scudetto it would be their first title since the 2010/11 season. Additionally they have a chance to win the Italian Supercoppa and will be facing off against Inter on Tuesday in the second leg of the tournaments semifinal round (catch the action Tuesday on Paramount+).
Neither the club nor Elliott sources commented on news of the potential sale, nor did Investcorp when they were contacted by Reuters on Friday when the news broke. Investcorp is an asset manager with lines of business including: private equity, real estate, absolute return investments, infrastructure, credit management, and strategic capital. It manages over $42 billion in assets. AC Milan are currently at the top of the Serie A table and are in the race to win their first Scudetto since 2010/11. Investcorp might be the first Bahrain-based ownership to control a Serie A club though they have already invested in some Italian brands such as Gucci and Riva.