Reuters have reported that Investcorp have pulled out of the race to buy Milan, allowing Redbird to complete the takeover.
Reports earlier today detailed how the American investment firm are prepared to pay €1.3 billion for the Rossoneri, a figure that could rise to €1.8 billion over several years. Elliott Management have done a good job turning the club around following the chaotic post-Silvio Berlusconi era and the team are now on course to win their first Scudetto in a decade.
As reported by Reuters, Investcorp have suspended talks with Elliott regarding a possible Milan takeover and they’ve now pulled out of the race, giving Redbird free space to comfortably close out the deal.
The Bahraini investment fund seemed incredibly close to pulling off a deal for the Rossoneri, but talks stalled regarding the formula of their €1.2 billion offer; €400m of that fee would reportedly come from loans, with the other €800m coming from equity. Elliott were not happy with this idea, having worked hard to balance the books over the last few years.