New Telegraph

Milan subject of two takeover bids – President


AC Milan, owned since 2018 by American investment fund Elliott Management, is the subject of “two bids”, club president Paolo Scaroni said on Tuesday.

“I understand that there are two offers and it takes time to complete the overview, understand them well and compare them,” Scaroni told Italian news agency ANSA.

In April, Italian media reported interest from Bahrain-based investment fund Investcorp.

More recently, the Italian press reported discussions with another potential bidder, American investment fund RedBird Capital Partners.

There has been no official response to from either reported bidder although Scaroni on Tuesday indicated that Investcorp’s negotiations with the owners were more advanced.

“I am not aware of any problems or critical issues with Investcorp,” said Scaroni, although he added “I am not the right person to ask about this, because I run the club that is the subject of the offer, so it is not something that involves Milan.”

Paolo Maldini, the iconic director of Milan, which leads Serie A with two games to go, said in April that he expected the club would be sold.

Elliott Management acquired the club in 2018 when Chinese businessman Li Yonghong was unable to repay a loan he had taken out when he bought the club from Silvio Berlusconi’s Fininvest in 2017.

Elliott Management made it clear they planned to sell.

*Courtesy: AFP

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