Bahrain Investment Fund in talks to buy Milan for 5 billion BRL

Matteo Bazzi/ EFE

After three changes of command behind the scenes since 2017, Milan Investcorp, an investment fund based in Bahrain’s capital Manama, may once again be sold. The talks were confirmed by the Embassy of Bahrain in the United Kingdom, which disclosed the offer. $1.1 billion (about R$ 5.1) Created by the fund to buy the traditional Italian club.

“Bahrain asset manager Investcorp has initiated exclusive talks to buy Serie A club Milan for US$1.1 billion. Investcorp, founded in 1982, is a company in addition to managing more than US$42 billion of assets worldwide. Provides a diversified and truly global investment portfolio.” The embassy said in a social media post.

Milan was controlled by former Italian Prime Minister Silvio Berlusconi for 31 years, a period that ended in 2017, when 99.93% of the club was sold to the Chinese consortium. Rossoneri Sport Investment Lux, under the leadership of Li Yonghong, who assumed the presidency of Milan. The following year, Sugar passed control to the American conglomerate Elliot Management, with which it had a million dollar debt.

Then, the new owners of the club appointed Paolo Scaroni as president. Scaroni remains in office and, in the current season, saw the team fight for the Italian championship title, the last won in 2011. Even with the positive outlook, Elliott is open to negotiating a sale, as it took over the club as payment. The aftermath of the loan and restructuring process managed to enhance Rossoneri’s image.

According to the Italian press, Investcorp plans to follow the same line of work that Elliott has done so far, including directors such as former defender Paolo Maldini, the current technical director. The newspaper La Gazzetta dello Sport reported that the fund has big ambitions and intends to bring Milan back into the limelight in the Champions League.

See also  Maceo is hosting the Beach Handball Championship for the first time

About the author: Sarah Gracie

"Proud social media buff. Unapologetic web scholar. Internet guru. Lifelong music junkie. Travel specialist."

Related Posts

Leave a Reply

Your email address will not be published.