October 11, 2022
Milan’s new owners should be ‘halfway between’ Elliott and Man City, PSG

AC Milan’s likely new owners, Investcorp, are expected to operate a bit more aggressively than Elliott Management, but won’t be as expansive as Manchester City or PSG, a reporter has told us.

We spoke to the reporter from Il Sole 24 Ore Marco Bellinazzo on a number of different topics relating to the potential ownership change, including Elliott Management’s work to manufacture such a possibility, the background to Investcorp’s interest and what it could mean for the club if the deal was concluded. You can read the full interview here.

As part of the interview, we asked if Investcorp (or rather their shareholder Mubadala which is a sovereign wealth fund) had an attitude closer to that of Elliott or the Arab owners of European clubs like PSG and Manchester City.

“The attitude of the Bahraini fund is a bit halfway between that of sovereign wealth funds that control the state of clubs like PSG and Manchester City and that of a hedge fund like Elliott that aims for an economic return, let’s say in the 3-5 year time frame,” Bellinazzo said.

“It is no coincidence that for Investcorp we are talking about an investment over a ten-year horizon which obviously aims for an economic return but also a sporting and image enhancement, that is to say to win things.

“This is fundamental for Investcorp’s equity fund, namely Mubadala, which signed an agreement with Bahrain’s sovereign wealth fund no later than December 2021 and wanted to invest in sports as a tool for soft -power for the reaffirmation of the image of the kingdom in the Western economy.

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