Investcorp will complete Milan takeover on Friday
According to the most recent sources out of Italy, Investcorp could sign the papers for their €1.1 billion takeover of Milan as early as Friday, April 29.
According to the press, the firms are already in advanced negotiations and have agreed to two weeks of exclusivity throughout the due diligence process to complete the transaction by early May.
Now, according to
Il Sole 24 Ore
, the Italian counterpart of the
Financial Times
, Investcorp is on pace to sign the contracts in the company's
Milanoffices by Friday, April 29.
Multiple initial challenges have already been overcome ahead of time, and the project is progressing swiftly toward completion.
Manchester City's ownership group, Investcorp, is a sovereign investment fund based in Bahrain that includes individuals who are also involved in the ownership of the club.
The current owners of AC Milan are
Elliott Management
, a US investment group that effectively seized control of the club in 2018 when Yonghong Li failed to make loan repayments on the loan he had taken out to purchase the Serie A giants from Silvio Berlusconi.
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