Middle Eastern investment company Investcorp is said to be in exclusive talks to buy Italian Serie A club AC Milan. The purchase value of AC Milan is said to have reached €1.1 billion or around Rp. 15.5 trillion.
According to Bloomberg, citing sources familiar with the plan, Investcorp, which owns Abu Dhabi Mubadala Investment Co., is in discussions with Elliott Management Corp. to buy AC Milan. However, representatives of Investcorp, Elliott and AC Milan declined to comment on the news of this acquisition.
As is known, Elliott has owned AC Milan's majority stake since 2018. Elliott Management took over AC Milan after the former long-time shareholder, Chinese businessman Li Yonghong, failed to pay his debts.
Since taking over Investcorp in 2015, Executive Chairman Mohammed Alardhihas has launched a growth strategy to multiply the company's assets under management. Investcorp itself is noted to have a number of investments in Italy including in Gucci, Riva and Dainese.
The purchase of elite clubs by Middle Eastern sovereign wealth funds and billionaires has led to a surge in spending on European football clubs.
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