Report: Buyer issues ultimatum to seller over AC Milan takeover

Reports have it that Investcorp, the Bahraini firm interested in taking over AC Milan from American company Elliott Management Corporation, have issued them an ultimatum to decide on their offer.

A takeover from Investcorp is going to make Milan the first team to come under the ownership of the Middle East in Serie A history. It will also surely mean a large cash flow for the club in the hyper competitive transfer window of today.

The takeover is said to be in the range of €1 – €1.2 billion. However, the Rossoneri have been reported as considering another bid for the club, which has gotten the attention of Investcorp.

The other bid is from RedBird Capital and is said to be the deal that the Rossoneri are considering ahead of the one from Investcorp. The Bahraini company is also reportedly unhappy with the leaks and developments in their negotiations for takeover with Elliott.

One of the developments which have been leaked to the media is that the company seeking an Italian investor to join them in their takeover bid as they want to give the new ownership a local feel.

Elliott, meanwhile, is confident because they have received many offers for the club. At the end of the season, they will reopen the talks, which are now slowed down as they push for their first Scudetto in 10 years.

Meanwhile, Italy’s manager Roberto Mancini has stated that the title race between the two Milan clubs is interesting for the neutral.

Milan won Atalanta by two goals to nil to go within one match of their first Scudetto since 2011. They are followed closely by Inter, who are only two points behind them.

He, however, said that Milan are the favourites for the title solely because they lead the standings. Speaking with Sky Sports Italia, Mancini said: “Are Milan favourites? Yes, because of the advantage in the standings. The teams that are fighting have deserved to go all the way. It was a good season.

“I think it’s nice for the neutral. It’s the first time [in a while] that it comes down to the last day like this, it will be nice,” Mancini added.