Investcorp, Elliott end talks for AC Milan buyout

Investcorp, Elliott end talks for AC Milan buyout

May 27, 2022 by www.espn.com - SOCCER

Key Facts

  • Investcorp and U.S. fund Elliott have ended talks over the buyout of Italian champions AC Milan, a top executive of the Bahrain-domiciled asset manager said on Thursday.
  • Reuters reported last week that Investcorp had put on hold its plans to purchase the club, which is owned by Elliott, clearing the way for U.S. investment firm RedBird to pursue a deal.
  • Investcorp was last month in exclusive negotiations to buy AC Milan from U.S fund Elliott, who took over the club in 2018 when Chinese businessman Li Yonghong failed to meet some obligations linked to a financing package after the purchase of the team from Silvio Berlusconi the year before.
  • AC Milan clinched their first Italian Serie A title in 11 years after earning a 3-0 final-day victory at Sassuolo on Sunday, with a double from Olivier Giroud and one from Franck Kessie sealing the Scudetto in style.

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