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Milan of Arabia – The Press

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Milan of Arabia – The Press

MILAN. It is the most concrete attempt to buy Milan since the Elliott Fund took over the Rossoneri club in the summer of 2018 from the elusive Chinese Yonghong Li. The suitor is the Investcorp fund, 42 billion dollars of managed assets, founded in 1982 in Bahrain, now present in 13 different countries including Europe, the United States, India, China and Singapore, led by executive president Mohamed Alardhi, head of the stock exchange. ‘Oman and former commander of the military air force of the sultanate of Muscate.

Investcorp has entered into an exclusive negotiation with AC Milan on the basis of an offer equal to one billion euros. It would be the highest sale ever for an Italian club. It is the first time of an Arab buyer in our football. The negotiation could lead to a white smoke at the end of the championship, between the end of May and the beginning of June. The exclusive negotiation does not presuppose the security of the agreement, but it shows that the parties have already gone beyond the preliminary contacts. Investcorp has begun an in-depth analysis of the Rossoneri accounts which are improving: the 2021-22 financial year could close with a deficit of 70 million, lower than the standards of many big clubs since the pandemic began.

Investcorp sees potential for revenue growth, starting with the new stadium. The fund has already invested in Italy, especially in clothing: Gucci (later sold to Kering), Dainese and Corneliani. A sector that goes very well with Milan’s vocation in fashion, a source of possible links with the Milan brand. Another circumstance confirms that the track is very hot: Elliott does not deny it, unlike what happened in the face of the other rumors of owner changes. The words of Paolo Maldini are very indicative: «It is normal that there could be a sale in Milan’s future. I don’t know when that time will be. ” Paul and Gordon Singer’s fund would make a profit of 300 million and leave the team in the Champions League for the second consecutive season, after a seven-year absence with previous managements. A positive result from a financial and sporting point of view.

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The landing of an Arab buyer in Serie A refers to spending sprees in the style of Psg (Qatar) or Manchester City (United Arab Emirates). Even though the Investcorp fund is a less direct emanation of its own government than the sheikhs who have floated between Paris and Manchester over the past decade. In the event of the sale of Milan, any assessment by Uefa would fall which, according to the Equipe, would like to investigate the intertwining between Elliott and the Merlyn fund, controller of Lille, also witnessed by the numerous market deals between the two teams: Leao and Maignan already done, Botman and Renato Sanchez in progress. But, after Nyon’s acquittal for Leipzig and Salzburg clearly attributable to Red Bull, these investigations cannot be very scary. And in a few weeks it could all be overcome with AC Milan in the hands of the Bahraini fund.

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