Discussions for the takeover of Italian club AC Milan by an investor from Bahrain, Investcorp, have not led to an agreement and negotiations have ended, the head of this important company from the small kingdom of Bahrain announced on Thursday. Gulf.
Sold in 2017 by Silvio Berlusconi to a Chinese businessman, Li Yonghong, AC Milan has been owned since 2018 by an American investment company, Elliott.
“We have had discussions with Elliott regarding a potential investment in AC Milan,” tweeted Investcorp chief executive Mohammed Al-Ardhi, adding that “a commercial agreement has not been reached.”
“We have mutually decided to end the discussions. We wish AC Milan the best for next season and beyond.”
The rossonero club, champion of Italy 2022, had recently reported “two offers” of takeover, which according to several media would be the fact of Investcorp and the American investment fund RedBird Capital Partners, owner of the Toulouse club in the League 1.
In April, the French sports daily L’Equipe estimated that negotiations were well advanced with Investcorp, an investment fund created in 1982, known in particular for the acquisition of Gucci a few years later.
After a few difficult years, AC Milan returned to the Champions League this season, ending with a 19th Italian league title. The club is working with Inter Milan on the construction of a new joint stadium to increase ticketing revenue for both clubs.
The time could therefore have come for Elliott to grow its investment (EUR 740m since 2018, according to the Italian press) by selling this club, which has become attractive again. The operation could exceed one billion euros.
In July 2020, the American fund RedBird Capital Partners bought 85% of the shares of Toulouse FC, which had just dropped to L2, before celebrating the rise of “Téfécé” in Ligue 1 next season. Its boss, Gerry Cardinale, was already present in the sports world, notably through development agreements with the New York Yankees baseball franchise and the Dallas Cowboys in American football.
