Despite several changes in recent years, there could be new ownership in Serie A with a potential AC Milan takeover on the cards. The club have gone through a number of takeovers and ownerships since previous longtime owner Silvio Berlusconi sold the club in 2017. Now, according to Bloomberg, Investcorp out of the Middle East is in talks to buy the historic Italian club.
Investcorp and major shareholder Mubadala Investment Co. out of Abu Dhabi, are in discussions to purchase the club from Elliott Management Corp. Bloomberg states that the negotiations value the club at €1 billion.
For now, representatives from Investcorp, Elliott Management, and Milan have refused to comment.
AC Milan Takeover Rumoured
A Tumulous Recent History
Berlusconi sold Milan to a Chinese consortium led by Li Yonghong for approximately €740 million in April 2017. Yonghong and company went on a massive spending spree, purchasing the likes of Leonardo Bonucci, Franck Kessie, Andre Silva, Lucas Biglia, Hakan Calhanoglu, and others. Out of the 11 big purchases, only Kessie remains on the squad, but that won’t be for long.
The club failed with its new purchases, and Elliott Management took over in 2018 after Yonghong defaulted on debt obligations.
Elliott Management has done a fantastic job with the club thus far. They made shrewd hires, and in addition, strongly invested in purchasing young players which have paid off massively. This includes the likes of Rafael Leao, Fikayo Tomori, Pierre Kalulu, Sandro Tonali, and others. Moreover, the work Elliott Management has done has Milan in the race for the Scudetto and back in the Champions League.
Milan fans may see this as worrisome due to Elliott Management’s success. With that being said, Elliott Management came in with a specific monetary goal of raising the value of the club and selling it. Investcorp, however, does much of the same.
Since 2015, Investcorp has more than quadrupled the assets it has under management. The positive here for Milan is that, as an asset, their value will increase as they see more success.
Main Photo
