Business & Economy

AC Milan for €1.1 billion

Rome, April 22 (EFE).- Talks between Italian giant club AC Milan and prospective buyers Investcorp have reached advanced stages, with the Bahrain-based firm presenting an attractive package that could potentially revive the once legendary club.

The offer, which has been confirmed by the Bahraini embassy in the United Kingdom, includes allocating 300 million euros for the upcoming transfer market and redesigning the San Siro stadium, with a total takeover amount of the Rossonero worth 1.1 billion euros.

The Middle East continues to be involved in purchasing European soccer clubs, trying to build soccer empires with million-dollar projects.

The latest example was when the Saudi Public Investment Fund acquired Newcastle United, but Gulf-owned Paris Saint-Germain and Manchester City are perhaps the most illustrative.

The Bahraini fund that is in negotiations to buy the Serie A leader was founded in 1982 and currently has an estimated figure of 42 billion euros in assets.

Planning to follow in the footsteps of the current owner Elliott Management Corporation which took over in 2018, Investcorp wants to be in charge of helping Milan grow with its financial commitment to the transfer market and the new stadium project.

Meanwhile, negotiations with Milan’s city council for a new stadium for Inter Milan and AC Milan are moving forward.

Neither of the two teams can wait any longer to have a state-of-the-art stadium, which would guarantee them more income.

Investcorp’s possible takeover would not come across the construction of a new stadium, as local media reported that the firm would redesign San Siro to make it “more massive.”

Investcorp wants to make the club one of the main candidates to win the Champions League in a short period of time, as well as accelerate its growth process. EFE


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