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Investcorp, a Bahraini investment fund, is considering buying AC Milan from US fund Elliott, which has owned the club since 2018. After rumors circulated last week, the news was indirectly confirmed by the Bahraini embassy in the UK over the weekend. United, in a laterdeleted tweet.
Investcorp President Mohammed al Ardhi was also present on Saturday congratulated on Twitter with Milan to win the league against Genoa: On his profile, Al Ardhi deals almost exclusively with finances and investments, which is why the congratulations to Milan were highlighted. According to reconstructions published by various media, the value of the club would be around one billion euros. So far, however, the deal has not been confirmed by any of the interested parties.
congratulations to #AC Milan back at the top of the Italian league. Happy Easter to the club, its fans and everyone watching the occasion #SempreMilan
محمد محفوظ العارضي (@MMAlardhi) April 16, 2022
Founded in Bahrain in 1982, Investcorp is an alternative investment fund meaning a fund that invests outside of traditional assets such as stocks and government bonds with interests around the world, specifically led by Mohammed al Ardhi, an Omani national and former President of the National Bank of Oman.
In Italy, Investcorp has already invested in Gucci, Riva, Dainese and recently in HWG, an IT security company based in Verona. It also owns some properties in Italy, such as the United Nations Agricultural Development Fund headquarters in Rome and the Kering Group headquarters in Milan. In 2017, 20 percent of Investcorp was bought by Mubadala, a UAE state investment fund.
AC Milan has owned the Elliott Fund through Project RedBlack since the summer of 2018, when the latter took over the group of Chinese investor Yonghong Li, who filed for bankruptcy against the very Elliott, its financier. It is estimated that Elliott has invested over €500m in AC Milan over the past four years, taking the men’s side from sixth to second in last season’s table. So far, neither Milan nor Elliott have confirmed the negotiations.
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