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According to reports, AC Milan is close to agreeing on a $1 billion takeover deal with a Bahraini company.
Italian giants AC Milan will be encouraged to move beyond their disappointment in Tuesday's Coppa Italia semi-final as they could be entering a new golden era. The Rossoneri are close to a proposed takeover by Bahrani company Investcorp which plans to buy the club for around $1.82 billion.
According to Italian publication Tuttosport, Elliott Management Corporation could sell the Serie A side within two weeks, which would mean that the historic team would be the first Italian side to come under the management of Middle Eastern investors.
How rich is Investcorp?
It is a little difficult to determine how rich Investcorp is since it became a 'closed' shareholding company. However, according to reports, the company has at least $37 billion in assets under management.
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Another report by Corriere Dello Sport claims the company has access to a mammoth $380 billion Abu Dhabi sovereign wealth fund led by Manchester City chairman Khaldoon Al-Mubarak.
Wednesday nights in San Siro
It is hard to deny the transformative power of oil money in the beautiful game. The recent takeover of Newcastle United by Saudi Arabia’s Public Investment Fund (PIF) saw them go on a $112.31 million spending spree which catapulted the relegation candidates into 14th place on the Premier League table at the time of writing.
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Milan, however, does not suffer a lack of success, with Stefano Pioli's men leading the Serie A standings. As a result of the Elliot group's acquisition in 2018, Milan has become perennial title contenders compared to finishing 7th, 6th and 6th in the three seasons before the purchase.
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Although Milan has made progress, the last time they reached the knockout stage in the Champions League was the 2013/2014 season, when they lost to Atletico Madrid.
The takeover by Investcorp could build on the progress already made, and we could soon see Champions League knockout games back at the historic san Siro.
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