May 22, (THEWILL) – Investcorp, a global asset management firm, has withdrawn from the bidding for Serie A heavyweights, AC Milan.
In recent months, current owners Elliott Management, have been attempting to sell the San Siro club, and it was expected that Investcorp would buy the Rossoneri, but for undisclosed reasons, Investcorp has terminated negotiations.
RedBird, which owns a minority position in Fenway Sports Group, which owns Liverpool, is suddenly the favourite to purchase Milan from Elliott Management.
The two sides are now in advanced talks, although they are apprehensive of announcing a deal before the end of Milan’s 2021/2022 season.
Stefano Pioli’s team will win their first Serie A title in 11 years if they can match or exceed Inter’s result on the last day of the season. On Sunday, Milan will visit mid-table Sassuolo, while Inter will host 15th-placed Sampdoria at San Siro.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
