Ultimatum issued: Milan takeover could fail at the eleventh hour
According to La Gazzetta dello Sport Bahrain investment fund Investcorp has issued an ultimatum to AC Milan owners Elliott Management
The sale of Italian giants AC Milan could be about to fall out after terms were very close to being agreed upon, as Bahrain investment fund Investcorp has issued an ultimatum to AC Milan owners Elliott Management. They're unhappy with how the negotiation has developed lately and threaten to withdraw the offer.
According to La Gazzetta dello Sport, the suspicion is that the Rossoneri owner is looking for other buyers to raise the price. Lately, rumour has been going around from Elliott's side of the negotiations table that Investcorp was attempting to find partners for the operation, such as banks or other investors.
Bahrain fund intends to buy AC Milan
The Bahrain company rejects this, ensuring instead that they have the capital necessary to proceed with the closing of the agreement. In their opinion, the offer is excellent and the way Elliott has carried itself now is not admissible.
Elliott Management took control of the Italian club in July 2018, as owner Li Yonghong defaulted on his €415 million debt to them. In their short time controlling the club, they have managed to estabilize it and even compete for titles again. AC Milan are currently leaders of Serie A with 80 points, with Inter following closely with 78.
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